Life insurance

[Forgotmylogindetails]

Hi

I hope I’m in the right place.

Long story short , if someone is left a residuary estate and the deceased had life insurance policies that the executor of the will didn’t declare for probate or on the inheritance tax form or tell the beneficiaries about and then asked to be paid it (and was paid it ) is there anything the beneficiaries can do ?

I can’t afford a solicitor any further.

thank you

Do you know whether the life insurance policies had been written into trust? If they had then they'd fall outside of the Estate and no IHT would be due. The Trustee(s) would be responsible for distributing the proceeds to the beneficiaries of the trust (who might not necessarily be the same as the beneficiaries of the Estate under the terms of the Will.

If you are concerned that the life policy proceeds were not written into trust, and therefore should have been declared for Probate and formed part of the residuary estate, you could try asking the Office of the Public Guardian for guidance (at no cost).

Thank you so much for replying.

I know he lied on the IHT form I’ve seen it myself.

by a miracle the insurance policies have disappeared and when I rang them they can’t talk to me as I’m not next of kin (he was).

I know they were meant for the children as the deceased made that very clear

the trust declared “residuary estate”. Nothing detailed.

they we’re definitely not declared on the IHT forms and neither was her pension. Should they have been declared some where ? X

Pension is outside IHT.

A pension would be outside of the estate because it is held by the pension trustees, who will look to pay to eligible beneficiaries (usually spouse first if there is one). So not declared on IHT forms.

And if the life policies were in trust they wouldn't go on the IHT form either.

the insurance policies weren’t anywhere,

he had them paid to himself and kept them with no mention of them.

thank you for advice re pensions :)

There is a declaration on n the IHT form does the deceased have a pension he ticked no.
same re insurance policies

You can report an executor for mismanagement of a will.

Try a letter to the insurance company if you are certain you (or your child) were a named beneficiary on the policy.

If the insurance was a large amount, HMRC may be interested as IHT would be payable if not written in trust.

Try the ‘Death and probate’ board on Moneysaving expert forum, there are some very knowledgable people on there.