Can funeral expenses be deducted from a life insurance policy before the Beneficiary is paid?
Funeral expenses will not be deducted from life insurance. All proceeds will be paid to the beneficiary. If the beneficiary is a minor (such as a 10 year old boy), the court will hold the money until an appropriate legal guardian or trustee is appointed to manage the money. If you list a minor in your life insurance policy, its important that you state in your Will on who should be the guardian of your child. Otherwise the court will appoint one for the child.
