What happens if life insurance is payable to the estate? | NC

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Q: What is the probate process and timeline when the only asset is a life insurance payout payable to the estate? A: If the life insurance is paid to the estate instead of a living named beneficiary, it usually becomes a probate asset and must go through some form of estate administration. The first step is choosing the right procedure. If the estate qualifies as a small estate, an affidavit may…