[WSBAPT] Life Insurance in insolvent estate

[Josh Grant]

If there is no beneficiary then the estate gets the proceeds and must pay valid claims.
48.18.410 reads “The lawful beneficiary” ... shall be entitled to the proceeds and avails of the policy against the creditors... of the insured...
So only creditors of a beneficiary are protected.

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: Timothy Lehr 
Sent: Wednesday, August 25, 2021 8:59 AM
To: WSBA Probate & Trust Listserv 
Subject: [WSBAPT] Life Insurance in insolvent estate

All,

 

I have an estate that has two life insurance policies with no named beneficiaries, and otherwise the estate is insolvent. There are some outstanding debts as well. Wondering if life insurance proceeds payable to the “estate” are protected from the estate creditors? When I read RCW 48.18.410, it seems to me they are exempt. Any thoughts or am I missing another relevant statute? 

 

Thanks! 

 

Timothy C. Lehr

Attorney at Law

 



 

p:   360.855.0131

e:   timothy at stileslaw.com

w:  www.stileslaw.com

 

NOTICE: The information contained in this email is proprietary and/or confidential and may be privileged. If you are not the intended recipient of this communication, you are hereby notified to : (i) delete the email and all copies; (ii) not disclose, distribute or use the email in any manner; (iii) notify the sender immediately. Thank you. 

 



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