Are insurance proceeds reported on an estate Inventory?

Q:  Are life insurance proceeds paid to a beneficiary need to be listed on the Inventory for probate?

A: Generally, in Pennsylvania, insurance proceeds, if payable to a living beneficiary, are not part of the estate and therefore do not appear on the estate Inventory nor are they subject to inheritance tax.

If you feel like this issue relates to you, or a problem that you are experiencing, please contact me so that we can discuss your situation.