Instead, they are considered cash in the estate and subject to the rights of creditors

Instead, they are considered cash in the estate and subject to the rights of creditors

When we think of the assets that we own, we generally think of stocks, bonds, real estate, and personal property. All too often we fail to think of an insurance policy as an asset. Failure to do so is a potential mistake.

If an individual owns the traditional assets mentioned above, those assets would be subject to probate at the time of the owner’s death. A life insurance policy is no different.