If they are named the benificiary of the life insurance policy. If they are not, it goes to the named individuals. If no one has been named, the policy will normally pay the estate and the procedes distributed according to the will or intestacy laws.
An emancipated child is considered an adult. They are entitled to receive any benefits assigned to them. If they are not emancipated, the money will go into a trust for them.
The estate is responsible for the debts. If the estate has no assets, the creditors will not get paid. If there are not enough assets to pay the debts, the beneficiaries will not receive anything.
Only if underage
No but what you do with the money may be taxable.
The children are not directly responsible in Pennsylvania. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
In Colorado, a surviving spouse is entitled to an "elective share" of the deceased spouse's estate, which is typically one-third of the estate. If the deceased spouse's will does not provide for the surviving spouse, they can choose to receive the elective share instead. Colorado also has laws that protect a surviving spouse's rights to the marital home and certain personal property.
In many cases, a surviving spouse may be eligible to receive a portion of their deceased spouse's pension benefits. The exact amount and eligibility criteria will depend on the pension plan's rules and the specific circumstances. It's important to check with the pension plan administrator.
Typically the spouse will inherit the property of a deceased spouse. A will may assign things to other beneficiaries. Consult a licensed attorney in the state in question.
Usually, the cut-off is age 18.
In a common law jurisdiction, the surviving spouse may have the right to a portion of the deceased spouse's property through intestacy laws. This varies by jurisdiction, but generally the surviving spouse will receive a portion of the estate, with the remainder distributed to other relatives according to the laws of intestate succession. It's recommended to consult with a lawyer to understand specific rights in your location.
The children or heirs of the deceased will receive the benefits in a situation including a second to die insurance policy. It is also goes by the terms "Dual Life Insurance" and "Survivor-ship Insurance".
No, you do not have to be retiring in order to receive a widow's pension. Widow's pensions are typically available to surviving spouses of deceased individuals who were eligible for a pension or Social Security benefits.