[WSBAPT] Life Insurance

[Roger Hawkes]

I agree.  "owner" is ambiguous in this statement; I assume it is defined elsewhere.

Roger Hawkes, WSBA # 5173
19909 Ballinger Way NE
Shoreline, WA 98155
www.hawkeslawfirm.com<http://www.hawkeslawfirm.com>
206 367 5000
Fax is 206 367 4005

From: Ralph Maimon [mailto:rmaimon at maimonlaw.com]
Sent: Friday, May 22, 2015 10:46 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Life Insurance

LIstservers,

The deceased purchased a small life insurance policy naming his first wife as primary beneficiary and did not name a secondary beneficiary.  She predeceased him.  The subject language of the policy reads:
"The interest of any beneficiary who dies before the Insured shall vest in the owner unless otherwise provided"
I am inclined to say that the proceeds of the policy, because they go back to the owner/insured, are probated as part of his estate.
Thoughts?

Ralph Maimon
LAW OFFICE OF RALPH MAIMON, P.S.
2811 E. Madison Street, Suite 202
Seattle, WA 98112
(206) 323-0911 Office
(206) 462 1505  Fax
rmaimon at maimonlaw.com<mailto:rmaimon at maimonlaw.com>
www.maimonlaw.com<http://www.maimonlaw.com>


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