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<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Times New Roman",serif">Jennifer is correct: the policy governs. When the beneficiary designation fails, look to the policy. Nothing else matters. If the policy says it goes to the estate,
only then does the will language kick in.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Times New Roman",serif">Same thing with retirement plans, such as IRAs. The default clauses in the policy (or in the plan) vary widely. Make sure to get a written copy of the policy. A 2014
survey indicated that 30% of retirement plans default to the estate of the decedent, 43% default to the surviving spouse and then to the estate, and 22% default to the spouse, and then to the estate, and then to the children. You don’t know until you see
the policy in writing.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Times New Roman",serif">Phil Jones</span><span style="font-size:16.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Philip N. Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Duffy Kekel LLP<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">900 S.W. Fifth Ave. Suite 2500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Portland, OR 97204<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><a href="mailto:pjones@duffykekel.com"><span style="color:#0563C1">pjones@duffykekel.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-1371 – office<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 853-1482 – cell<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-3574 - fax<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Marcus J. Fry<br>
<b>Sent:</b> Tuesday, December 14, 2021 4:06 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Life Insurance/Interplay with Will<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">You need to look at the policy. Pretty unusual language that agent is citing and I think the agent should stay in his/her lane. The policy is likely payable to the estate (as opposed to saying intestate heirs), and therefore, the Will
controls the disposition.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><br>
<strong><span style="font-family:"Arial",sans-serif">Marcus J. Fry</span></strong><br>
Attorney | Witherspoon • Kelley<br>
<a href="mailto:mjf@witherspoonkelley.com">mjf@witherspoonkelley.com</a> | <a href="https://www.witherspoonkelley.com/marcus-j-fry">
Attorney Profile</a> | <a href="https://www.witherspoonkelley.com/s/mfj.vcf">vCard</a><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p align="right" style="text-align:right"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:white">222 N. 3rd Street<br>
Yakima, WA 98901<br>
(509) 248-7220 (office)<br>
(509) 575-1883 (fax)<br>
witherspoonkelley.com</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Carol Hunter<br>
<b>Sent:</b> Tuesday, December 14, 2021 3:51 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Life Insurance/Interplay with Will<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Dear Listmates,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I represent a PR in an estate in which there is a specific bequest that essentially says:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">“If the Estate receives proceeds from any life insurance policy, then those proceeds shall be distributed to (individual)”<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The decedent did in fact have a policy, and no beneficiary was named.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The life insurance agent is telling the PR that when there is no beneficiary named, then the funds follow a “hierarchy” (his words) – akin to intestate succession as far as I can tell, payable directly to those individuals.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">It is my understanding that a policy lacking a beneficiary would default to the Estate.
<o:p></o:p></p>
<p class="MsoNormal">Any thoughts? <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:navy"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:navy">Sincerely, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:navy">Carol J. Hunter<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:navy">Attorney at Law<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:navy">Hunter Elder Law, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:navy">2208 W Second Ave.<o:p></o:p></span></p>
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