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Both parents are now deceased their will named each other as beneficiary we named my oldest sibling to be the administrator there are 5 children whats the law on voting on major decisions?
Wiki User
∙ 14y ago
The Administrator must be appointed by the court and then has the authority to settle the estate. By law, the Administrator has the right and obligation and authority to make 'major decisions'. In a large family it is important for the family to respect the authority of the Administrator. It is important for all the family members to work together to resolve disagreements. You will need to make fair minded decisions on how to distribute the property and everyone's ideas should be considered. However, the Administrator has the right to make the final decisions.
Wiki User
∙ 14y ago
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Is a living widow the beneficiary of her deceased husband's IRA when no other beneficiary is named?
If the deceased has no children, yes. Otherwise the children share in his estate. This may vary by State.
When a deceased child is made a beneficiary of an estate does the children of the deceased automatically receive the inheritance?
yes. unless the will state otherwise
The beneficiary died after the policy holder who is also deceased Who is the beneficary spouse or children from previous marriage?
When the policy holder dies, the money goes to the beneficiary. If the beneficiary then dies, THEIR beneficiary then gets the money.
What is a deceased beneficiary?
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.
What is the meaning of 'To the issue of the deceased beneficiary'?
It means to the children of the person who should have inherited, but died before he could.
When a will states a person who is deceased as the beneficiary who receives it the spouse of the deceased or their children?
Typically the results will be that the money will be split in half, one part to the spouse, the other half to the children. Consult an attorney in your jurisdiction.
Is life insurance considered as the estate of the deceased?
only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.
If a beneficiary to an estate becomes deceased and that beneficiary had a distribution in that year would the heirs of the now deceased beneficiary receive a K-1 and be taxed on that distribution?
If the distribution to the beneficiary was mandatory, and the trust agreement does not provide for alternative disposition on the beneficiary's death, and/or the trust agreement provides that the distribution is mandatory and not discretionary, then the distribution should be payable to the deceased beneficiary's estate, which could get the K-1 as to any portion of the distribution that constitutes income rather than principal. The distribution to the deceased beneficiary's estate could flow through to the heirs of the deceased beneficiary's estate.
Who becomes the beneficiary of a CD when the designated beneficiary is deceased?
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 a beneficiary passes before his deceased father will his wife and children receive his portion of fathers trust fund?
That all depends on the provisions of the trust. You need to review the trust document to determine if there is a contingent beneficiary named who will receive the deceased beneficiary's portion. You should ask the trustee if you can have the trust reviewed by your own attorney.
Does to the issue of deceased beneficiary have the same meaning as surviving issue of beneficiary?
No, not exactly.The issue of a deceased beneficiary includes any issue that has predeceased that beneficiary.Surviving issue means only the issue living at the time of death of the beneficiary.
Can ex-spouse collect deceased husbands insurance if first deceased wife name is still listed as beneficiary?
No, an ex-spouse can't collect a deceased husbands insurance if the first wife is listed as beneficiary even if the fist wife is now deceased. The money will go to the beneficiary's heirs.
