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In some States, but not all.
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∙ 15y ago
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Can a beneficiary be an administrator of an estate?
Yes.
What happens if there is no benificiary for a life insurance policy?
If there is no living beneficiary then the beneficiary becomes the estate of the insured. If there is a will the administrator of executor will have the benefits to pay for last expenses and then pay out as the State Law mandates. If there is no will the magistrate or probate court will assign an administrator or executor to handle these items.
The administrator made you put your own beneficiary funds into the estate account advising it was required. Can you sue her for fraud or petition the court to remove her?
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.
If you are beneficiary of life insurance policy is the administrator of the estate supposed to get your money?
Life insurance with a beneficiary is completely separate from the "estate". If you receive life insurance, it's your. The estate includes bank accounts, homes, cars, etc. not the life insurance
If a person dies intestate but has nominated a beneficiary for their provident funds can the trustee decide who should receive the benefits or should the husband receive it?
If during life a person has named a beneficiary on their retirement account the account administrator is obligated to pay the balance over to the named beneficiary. No one should be able to change the beneficiary chosen by the decedent. If someone believes they have a legitimate claim they can bring a court action and ask for a judicial review of the matter.
Can a bank be sued when it gives a mortgage loan to an administrator of an estate without consent from the beneficiary what are the banks defenses?
To me it sounds unlikely that a bank would give a new mortgage to an estate. How would the bank get its interest paid by a dead person? Did the administrator lie when he/she asked for the mortgage?
Does a Beneficiary have the right to enter a willed home?
Not until authorized to do so by the executor. The property belongs to the estate and the executor must protect the property.
Define accepting assignment in medical insurance?
The patient or beneficiary of a policy gives authorization of the administrator of the policy to forward payment for a covered procedure or or monies due directly to the treating facility or physician.
Can beneficiary hire probate lawyer if intestate?
A beneficiary can hire and pay their own attorney to represent their own interests but they cannot alone hire the attorney for the estate. The court appointed executor or the court appointed administrator will have the authority to hire an attorney to handle the estate.If there is no will any qualified person under state law can file a petition for appointment as the administrator. Qualified persons are generally a spouse, child or any other person who is an heir at law under the state laws of intestacy. A creditor can petition for appointment as administrator. The court appointed administrator can hire an attorney to handle the estate and pay the cost from the estate.
What does it take to get money out of a deceased person's savings account?
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.
What is the possessive form of beneficiary?
The possessive form for the noun beneficiary is beneficiary's.
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?
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.
