First of all if you are an heir get yourself an atty
Second , if there is an administrator of the decedents estate someone has to petition the court or be appointed by the court to be an administrator
The money in an estate account when there is no will must be used to pay any outstanding debts and expenses of the estate. The administrator , court and estate atty should determine if there are any relatives entitled to the estate, spouses, children,siblings parents etc. If there are none the monies go to the government unfortunately . That's why its so important to have at the very least a valid an current will. Better yet get a good estate plan in place way before you get to this point . If there is no will any monies due to the decedent arepayable ( and possibly taxable ) to the estate . That can be very costly to the estate especially in the area of retirement accts etc as they can end up getting taxed at least twice .It sounds like you are a relative , if you are , or are the only one you may be entitled to the proceeds of the estate--GET A GOOD ESTATE LAWYER IF YOU AREENTITLED_ ASK FRIENDS/RELATIVES FOR A REPUTABLE ONE
A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.
A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.
Generally, when the named beneficiary is deceased and there is no contingent beneficiary named then the account will revert to the estate of the owner and pass as intestate property unless there was a will with a residuary clause.
If there is no designated beneficiary for an account or policy, the default law typically designates the estate of the deceased as the beneficiary. This means that the assets or funds from the account or policy would be distributed according to the instructions laid out in the deceased's will or according to the laws of intestacy if there is no will.
Proof of death and proof of entitlement. ===Clarification=== Unless you are the joint owner of the account or listed as the beneficiary with the bank you need to be appointed the Administrator of the estate. As Administrator, the court will issue Letters of Administration to you that will empower you to administer the estate including the power to close the decedent's bank accounts.
You haven't explained what the "beneficiary funds" consisted of or where you got them. If the funds came from a joint account with you and the decedent or from a "payable on death" account with you as the beneficiary the funds are not part of the probate estate. You should visit the court where the probate was filed immediately if you think you are a victim of fraud by the administrator. You can file a motion to have your question answered after a review by the court. If the administrator is mishandling the estate she can be removed and replaced by the court.You haven't explained what the "beneficiary funds" consisted of or where you got them. If the funds came from a joint account with you and the decedent or from a "payable on death" account with you as the beneficiary the funds are not part of the probate estate. You should visit the court where the probate was filed immediately if you think you are a victim of fraud by the administrator. You can file a motion to have your question answered after a review by the court. If the administrator is mishandling the estate she can be removed and replaced by the court.You haven't explained what the "beneficiary funds" consisted of or where you got them. If the funds came from a joint account with you and the decedent or from a "payable on death" account with you as the beneficiary the funds are not part of the probate estate. You should visit the court where the probate was filed immediately if you think you are a victim of fraud by the administrator. You can file a motion to have your question answered after a review by the court. If the administrator is mishandling the estate she can be removed and replaced by the court.You haven't explained what the "beneficiary funds" consisted of or where you got them. If the funds came from a joint account with you and the decedent or from a "payable on death" account with you as the beneficiary the funds are not part of the probate estate. You should visit the court where the probate was filed immediately if you think you are a victim of fraud by the administrator. You can file a motion to have your question answered after a review by the court. If the administrator is mishandling the estate she can be removed and replaced by the court.
When two individuals have a joint account together and one dies the other is the sole owner of the account. The survivor is not considered a 'beneficiary'. They have all the rights that any account holder would have in any account.
No, the inherited funds (beneficiary IRA) have to remain in inherited (beneficiary) form. So the account/funds can only be distributed out of the beneficary IRA as a distribution or transfer to another alike roth beneficiary account at another firm. However, the deceased account can be transferred into the surviving spouse Roth IRA (or transfer to a beneficiary IRA account). A non-spouse doesn't have this option- they can only transfer to their beneficiary IRA account that they opened.
Bank accounts do not have beneficiaries. If you are not an authorized account holder, and you would know if you are, you have not access. The estate will distribute in accordance with the will.
If there is a will, then the beneficiary gets the money. If there is no will all the children of the decedent get an equal share of the money.
Once they have their letter of authority, they should be able to access the account. Then they can change the account.
It depends on the terms outlined in the deceased person's will and retirement account. If the sole beneficiary is named as the beneficiary in the retirement account documentation, then they may be entitled to receive the funds. However, if there are specific instructions in the will regarding the distribution of the retirement account, those would generally take precedence.