Unclaimed Property California
Life Insurance Policy question: Paid in error?
There were two life insurance policies: one was to me and the other to my bother. The insurance company paid out MY policy to the estate (not me) of my deceased mother. The check was deposited into an estate account and I had distributed the money evenly amongst myself and my brother.
Five years later, the other policy was left unclaimed and is now unclaimed property in the state of California , but is showing as being in my brother’s name and I cannot collect on it.
Is there anything I could do to collect this or have the Insurance Company add my name to the unclaimed insurance policy so I can rightfully claim my half or am I “S” out of luck and hopefully my brother would be willing to split his portion, but very doubtfully.
Thanks for your help!
I would hate to say S-O-L. However, if your brother was listed as the only Beneficiary (He is legally entitled to it).
From your post; it does not sound like he will be sharing any of the benefit.
Life is insurance benefits are should be paid to the Named Beneficiary as designated by the insured.
Just talk to your brother and remind him you shared your Insurance benefit 5 years ago. Hopefully, blood is thicker than MONEY
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Report of the Escheat Subcommittee of the Committee on Judiciary, House Resolution No. 224, 1957: Pertaining to Abandoned property — State … Interim Committee Reports, 1957-1959) … |
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