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Are mutual fund accounts or life insurance policies with designated beneficiaries considered tangible assets for the purpose of dividing up in a will?
Wiki User
∙ 15y ago
Generally, no. They are disposed of by their beneficiary designations. An exception would be in the designated beneficiary was a decedent's estate, in which case the assets would pass by the terms of the Will. However, they would not be tangible assets (e.g., furniture, cars, silver, jewelry -- things you can touch). They would be intangible assets. Mutual funds generally do not have beneficiary designations. They might, however, be disposed of in a joint tenancy with right of survivorship or payable on death designation.
Wiki User
∙ 15y ago
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Can more beneficiaries increase your fdic insurance?
FDIC insurance is the insurance that covers your money in a bank up to a specific amount for all of your accounts. It has nothing to do with beneficiaries.
Is putting in Insurance payments and balaancing patient accounts considered accounting?
or at least minor accounting?
My husband and I have all our funds in a Michigan Credit Union. Our two children are named as beneficiaries on all Accounts & CD's.Would these have to be probated.?
No if their names are on the accounts then it is their money already.
Can I get insurance on my high yield interest accounts?
You do not need to get insurance on your high-yield accounts. The FDIC automatically provides insurance for up to $250,000 on all accounts. You can get insurance but it is usually not need considering the FDIC will cover up to $250,000. You can find coverage though by visiting www.investopedia.com.
Balance sheet accounts are considered to be?
nominal accounts
How to collect or follow up outstanding accounts within designated timelines?
In order to collect a follow up outstanding accounts within designated timelines you will need to contact the debtors. You can reach out to them by phone calls to attempt to collect the outstanding accounts or send mail notifying the debtor of the balance that is owed.
Is cash found in the home of the decedent considered property and should go to the person that gets the residual property Or should it go to those beneficiaries that are splitting the bank accounts?
It should go into the estate to be distributed appropriately. The executor will submit the plan to the court for approval.
What kind of investment is a savings account with an insurance company?
Insurance companies provide only life insurance facilities to its customers. They do not provide savings accounts facilities to customers. Only banks can provide saving accounts to customers and not insurance companies.
Can mortgage holders report side notes tax accounts and insurance accounts to credit bureaus?
no
What accounts probably would be listed after the others in a chart of accounts?
insurance expense
What kinds of bank accounts are available at State Farm Bank?
State Farm is not a bank and does not offer bank accounts. State Farm is an insurance company and can help you to get various kinds of insurance products such as automobile or home insurance.
What is accounts payable considered on trial balance?
Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
