What happens to life insurance proceeds in an intestate succession?

In West Virginia, if a person dies without leaving a will, then their assets will be distributed in an intestate succession, which is the legal process of distributing the assets of a deceased person. When it comes to life insurance proceeds, the state of West Virginia has established laws that dictate who will receive the proceeds if a person does not have a valid will. Generally, the proceeds from a life insurance policy will go to the insured’s decedent’s nearest of kin, such as their spouse, children or other descendants. If the insured does not have any family members, the proceeds may go to the state. Additionally, West Virginia also allows for the life insurance policy to have a designated beneficiary, which is a person named in the policy to specifically receive the proceeds upon the death of the insured. If a beneficiary is named, then the life insurance proceeds will go directly to that person and bypass the intestate succession process. It is important to note that if a beneficiary is named, then the life insurance proceeds will not be considered as part of the decedent’s estate during the intestate succession process. Therefore, what happens to life insurance proceeds in an intestate succession in West Virginia is dependent on the circumstances surrounding the deceased’s family and whether a beneficiary was named on the policy. If a beneficiary was not named, the life insurance proceeds would generally be distributed to the deceased’s family members or the state.

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What happens to life insurance proceeds in an intestate succession?

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