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When a Medicare beneficiary has employer coverage Medicare is considered secondary and classifies the situation as?
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∙ 11y ago
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∙ 11y ago
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What happens if the beneficiary of a life insurance policy has passed away leaving no will?
My uncle was beneficiary on his mother's policy and has since passed away leaving no named beneficiary, so do the proceeds get distributed pursuant to the will? Yes Otherwise, check the rules for your state on "intestate" sucession. This situation is why it's a good idea to name a secondary beneficiary. If the primary passes away, the next in line gets the payout.
What does it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
Who collects the life insurance if the policy holder and beneficiary have died?
If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do). Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named. There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.
Which situation is considered reinforcement?
Which situation is considered reinforcement
Can an executer cheat the beneficiary of the estate?
Of course not. If the beneficiary has reason to believe the executor is mishandling the estate they should complain to the court that appointed the executor immediately and ask the court to review the situation.
Can a trustee sue a Beneficiary of a trust?
Since a beneficiary has no fiduciary responsibility to the trustee it is unlikely the trustee would encounter a situation where she would need to sue a beneficiary unless perhaps the beneficiary had stolen or damaged trust property. In that case a suit could be brought in the appropriate court. More common are suits by the beneficiaries against the trustee.
What are the important features of secondary in Pakistan with reference to the prevalent situation?
condary education with reference to prevalent situation
Can you leave your home to your beneficiary in your will if it is subject to a mortgage?
Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.
When an insurance company states an individual is the beneficiary when the individual was never listed on the policy what steps need to be taken in this situation?
If the individual is the beneficiary then clearly he was place as beneficiary with legal documents at some point. The only way around this contractual agreement is if signatures were forged which would nullify the contract.
Can you pay a beneficiary with stock?
The answer depends on the facts of the particular situation, how the will reads, what the beneficiary is given under the will and other factors. Also the laws of the state of probate should be taken into consideration as well as they might have a bearing. In the typical case where a beneficiary is given a specific dollar amount of money, you cannot pay the beneficiary with stock unless the beneficiary and the residuary legatees agree to it. If the beneficiary is given the stock itself, then the beneficiary must be paid with that stock unless he directs the executor to sell it and give cash instead. Even in that case an executor might refuse to sell the stock and tell the beneficiary to sell the stock himself after he receives it. If the beneficiary is given a portion of the residuary estate (which would include all sorts of assets) the beneficiary has the right to request the stock itself, but only in proportion to his/her share in the residuary. If the situation is that there are two residuary legatees and the value of the estate available for distribution is composed of cash and stock having equal value, the executor cannot force one beneficiary to take the stock and the other to take the cash unless that is what they agree to.
Which situation is considered reformat?
B
When someone has a life insurance policy on you does this mean when you die they get the money?
If there is a policy on your life the person currently listed as the beneficiary will be paid upon your death. The person listed as the owner of the policy is the only one who has the right to change the beneficiary. Usually the owner and insured are the same person but not always. You may wish to check on this and change the beneficiary if your situation has changed.
