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  1. #1
    Join Date
    Aug 2017
    Posts
    2

    Default Distribution of Life Insurance Proceeds by an Estate

    Ohio

    My sister has agreed to let me file to release a $10,000 life insurance policy on my father with no beneficiaries named on the policy from administration. My question is, if the judge will order the estate to be distributed or not. My sister wants me to have all of it, will the judge order that it be distributed under a release from administration?

    I am wondering if I should file to be administrator of the estate instead and have her sign a waiver of the right to administer that way nothing is distributed.

    Thank you for any help, it is much appreciated.

    I just noticed that on the second page of form 5.6 it says,

    "The Court appoints __________________________________________________ ________________________ commissioner, to receive and sell or distribute the personal property or proceeds thereof, and to execute all necessary documents of conveyance, including without limitation those necessary to transfer title to any motor vehicle, motorcycle, watercraft, or other titled personal property sold or distributed in kind. The commissioner shall complete the duties and report to the Court within sixty days of the date of this entry."

    I assume this means that distribution is my responsibility and the insurance company will release everything to me?

  2. #2
    Join Date
    Jan 2006
    Posts
    35,832

    Default Re: Distribution of Life Insurance Proceeds by an Estate

    what else is there in his estate? Does his estate have debts?

    apparently you are intending on utilizing Ohio's small estate administration. That would mean the estate is worth less than $35,000. Is that correct?

    since the life insurance policy has no beneficiaries it reverts to the estate. If there are debts, it must be used to pay those debts if there is no other money available.

    just in case you don't have something like this already on hand:

    https://www.probatect.org/forms/estate-administration

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