Question:

How can I find if my father had life insurence policies?

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My father died over 3 years ago, according to my brother the only $$ he had was in a bank account, that my brother completely wiped out. I hired a lawyer, but he said there wasn't anything I could do, since my brother supposely used the money to pay the creditors. My father who was 59 when he died, retired from 2 different well known companies. I would think that they would have a pension or some time of life insurence, but I called and they said they had nothing. I just feel that there has to be some way for me to find out. Any help would greatly be appreicated!!! Thanks in advance!

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  1. Honey, 70% of Americans die without active life insurance in place.  Even if he did have life insurance through his employer, at the time of retirement, if he didn't roll it over, "convert" it to a private policy, IT LAPSED.  If he DID convert it, he would have been paying a premium for it, at least once a year.

    Most people, if they're in that kind of debt at that age, aren't going to pay for life insurance - it's way down on the priority list, if you don't have minor children to raise.

    You're really asking, is there a database where you can plug his name in.  And the answer is no.  Pensions are NOT inheritable by children, so there's nothing for you to get there, either.

    Look at it this way.  If there was a policy, and your brother found it, and filed the claim, ONLY THE BENEFICIARY GETS THE MONEY.  The check goes straight from the insurance company, to the beneficiary.  Your brother can't be holding back "your share".  It flat out doesn't work that way.  

    You're not being screwed out of money.  I don't know why you think your brother is lying, but that's a whole 'nother issue.


  2. I want you to start with a check of your late father's estate to determine if there is been a "final accounting"  with the local governmental records keeper.  In the South, we call it he County Commission's office.   There would have been a Fiducary Commisioner who would have filed the "final accounting."  Usually the Fiducary Commissioner is a local lawyer who is a specialist in Probate law.  I think you need to have yourself appointed as a co-executor if your brother is the executor to get a "cleaner" accounting of the assets and liablities.  With two well known companies, I would think you could dig up some evidence of assets like basic life policies.  I gather your dad was in the office of the company rather than a blue collar worker.  If he happens to have been a blue collar worker, you might enlist the help of the union.  I would consider a change in legal representation.  I get the impression that you are the younger child and thus not the choice for executor under your father's will?   Something does not smell right.  Look for "plain view" property that your brother has recently aquired such as an expensive vehicle or boat. That kind of evidence of spending beyond his means.  You really need to look at the will which should be at the courthouse.   I am almost inclined to advise a short term contract with a private investigator from the "next town over." If you live in a large metropolitan area, you coud hire local.  If your hire another lawyer, it is important to hire a Wills and Probate specialist.  Most all law, even divorce, is now a speciality.  There are so many lawyers.  You can find someone. But, be proactive in the case.  Without being obstructive to someone who is trying to help you.  I like the courthouse crowd for hep.  Read the will. Look for a final accounting at the records room. (not spell checked)

  3. I would check with the human resource dept of each company he worked for. More than likely if there were life policies or a retirement account, the last employer would have the info. A 401k, retirement account, would be rolled to the new employer if offered, or into an IRA account if his new employer at the time didn't have a 401k. There would be at least an annual statement on a retirement account, usually a quarterly one.

    If he had life insurance from his employer, then the employer should have notified the carrier of the death to remove him from the billing statement. That would have generated the process of the life claim, and they would've send out a letter to the employer and beneficiary, if listed and an address provided.

    Good luck!

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