Final answer:
If John and Jane Doe die simultaneously in a car accident, with no contingent beneficiaries on their life insurance policies, the death benefits would typically be split equally between their estates. The division is governed by laws like the Uniform Simultaneous Death Act or state intestacy laws if no will or trust is present.
Step-by-step explanation:
When John and Jane Doe, who are each other's direct beneficiaries on their life insurance policies, are involved in a fatal car accident and paramedics arrive to find both deceased, the death benefits from both policies could potentially be paid into the estates of the deceased, assuming there is no evidence to suggest who died first. Since there are no contingent beneficiaries listed, and if the circumstances of death make it impossible to determine who passed away first, the proceeds would generally be split equally between John's estate and Jane's estate, assuming the jurisdiction follows simultaneous death laws such as the Uniform Simultaneous Death Act. If one could be presumed to have died first, even by a few moments, the other would briefly inherit the proceeds before their own death, and then the combined funds would go to the surviving spouse's estate. However, intestate succession laws would then govern who ultimately receives the assets from the estates.
If John and Jane had life insurance policies and both died, but did not die intestate (which is not specified in the scenario), their specified wills or trusts would provide instructions on how their respective estates should handle the policy proceeds. Otherwise, a court would apply state intestacy laws to distribute the assets from the estates.