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Madison Howard

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LMGIII

2025-02-26 05:50:33

Beneficiary is “Estate of Insured” but no Estate exists

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Thank you all for the responses. Looking at part 5 again I agree that it seems I need to check all 3 boxes. Thank you for clearing that up for me as I wasn’t sure. My mom had a living trust and appointed me as successor trustee. I think this would allow me to check box 1: “I am entitled to decedent’s remaining personal property”. My mom didn’t establish an estate and the only property she owned was our residential home which was owned 50% by her and 25% each by my brother and I. Her living trust then divided her portion to split 50% each between my brother and I. Only other property she owns is her car and a few bank accounts that we own jointly. According to google, for my location, the maximum statutory amount for the use of an affidavit to transfer property is $100,000. So I think box 2 can be checked off. “The value of the entire estate, wherever located, less liens and encumbrances does not exceed the maximum statutory amount for the use of an affidavit to transfer property”. And to the best of my knowledge box 3 is true. “No application or petition for appointment of a personal representative is pending or has been granted in any jurisdiction”. I just thought about it now that I will probably need to have this notarized as well? The email said to fill the form,scan, and send back but I think it can’t hurt to have it notarized before scanning. Any more thoughts or suggestions would be great. Thank you all for your help so far! -LG

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I forgot to ask, if for some reason the life insurance exceeds $100,000 is that held to the maximum statutory limit to use an affidavit to transfer property? I should probably call the insurance company to get more info. My mom just shared the policy number to us in a text for our info a few months prior to her passing and we still need to search to see if we can find more info about the policy in any of her documents in her room. Thank you. - LG

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