Walt owns an insurance policy on his life with Doris as the designated beneficiary. On Walt's prior death, the proceeds of the policy are not part of his probate estate.

Question

Quizplus · Accepted Answer

When a beneficiary is designated on a life insurance policy, the proceeds of the policy go directly to the beneficiary and do not become part of the deceased person's probate estate.

Walt Owns an Insurance Policy on His Life with Doris