As a trustee can I distribute the settlement of life insurance prior to the sale of a home owned by the estate
The estate has a house, a car and and life insurance policy. I am not sure if I am restricted from distributing the funds from the policy until the rest of the estate has been settled.
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Comments
is the estate the beneficiary of the life policy? if it has a person as the beneficiary then there is no need for it to go to the estate first
(you probably know that,but just checking)
You should definately wait to distribute the life insurance proceeds until all claims against the estate are settled. Since the estate is the beneficiary, the funds must be used to pay bills owed by the deceased.
You should distribute cash last, after all the assets are sold.
Life policy settlement, if the beneficiary is the estate, is cash.
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