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Beneficiaries are entitled to 100% of the policy. They can share it with other family members if they want.

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โˆ™ 2005-11-08 04:48:40
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If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

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Q: Can beneficiaries get 20 percent of the value of the policy before giving the remainder to others in the family?
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Related questions

Do family members of a will have to sign off to the executor?

It is important to distinguish here between 'family members' and 'beneficiaries'. If the will leaves the estate to people who aren't family members, then no, those family members do not have to 'sign off' the will. If, however, family members are beneficiaries according to the will, then yes, the beneficiaries will have to sign a release once they have collected whatever amount has been left to them in the will.

Must all beneficiaries agree to new executor before he can be appointed?

No, beneficiaries do not have to agree on the appointment of an executor. The court makes the appointment. If the family doesn't want someone appointed, the court will likely assign the duties to an attorney or bank.

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Can the debtor of a beneficiary have IRS seize the money paid to beneficiary from a family members life insurance?

Yes, the debts must be paid before the estate is divided up between beneficiaries.

Are beificiaries notified by a lawyer?

Beneficiaries will be notified by the executor. That may be an attorney or a family member, or even a bank.

When is the family notified about deceased brothers will?

When the estate is opened, all possible beneficiaries should be notified. In most cases service must be made before the court will issue a letter of authority to the executor. That allows everyone to know what is going on.

Can an executor buy family home at full price if they are also a beneficiary if 3 out of 4 beneficiaries agree?

Any of the beneficiaries could buy the property at full price. The court has to approve it, but I don't see any reason why they wouldn't approve a valid sale at a market value. The money goes into the estate and is then divided between the debtors and beneficiaries.

Is it illegal for one member of family to withhold insurance policy details of deceased mother from siblings?

The information should be available to all family members who are the beneficiaries of the policy or are affected by the probate of the deceased person's estate. If the person withholding the information is the Executor of the estate, that person does not have the right to withhold this knowledge from the beneficiaries of the policy. Notify the probate court of this,

Can a deed to the family home be transferred to the executrix who is also a beneficiary without the signatures of all the beneficiaries?

The beneficiaries do not have the ability to transfer property. The executor can deed the property to whomever it is being sold or distributed to. The executor can also transfer the deed to the estate while determining disposition.

Your sister was murdered by her husband who then committed suicide your sister was first beneficiary on policy do her family have any rights to the life insurance death benefits?

Usually it depends on how the beneficiaries were stated on the policy. If she left all to the husband, then since he was the last to die, his beneficiaries would be the ones who count. But, if she died first, the contingent beneficiaries would be the next on the list. I don't know though, if the murder and suicide would affect this.

What happens when one of two beneficiaries dies before claiming the money in il?

When a beneficiary dies before a testator there are two things that can happen--either the gift will lapse, meaning that it will not pass to them but will stay with the estate or the gift (in this case money) will go to the family of the now deceased beneficiary. Whether one happens over another will depend on the wording in the will and the nature of the gift

If a family has real estate property in a living trust will this property be protected from medical bills of one family member?

If the trust instrument was properly drafted then title to the property is in the trustee and should not be reachable by a creditor of one of the beneficiaries.

Does the trustee of a irrevocable trust have to notify all family members of what is left in the trust?

The beneficiaries are entitled to an accounting to make sure the trustee is not wasting the trust assets.

Family day care accounts for of the full time child care given outside of a child's family?

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Do family members have to pay taxes on a parent's annuity when parent deceases?

Yes the annuity payments are taxable income to the beneficiaries in the same way that they were taxed to the deceased taxpayer.

What documents do beneficiaries automatically receive?

They do not automatically receive anything. In some cases, the executor will not have to provide information to the family. They can obtain copies of anything filed with the court.

A family spends 20 percent of its monthly income on food 23 percent on rent and 42 percent on other expenses and saves the balance if the family saves 360 per month what is its monthly income?


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how many percent of broken families in the philippines

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Can other relatives not in the immediate family change the beneficiary of a life insurance policy?

No, only the owner (generally the insured) of the insurance policy can make changes! This is not to say the he/she can not make the distant reletives beneficiaries, but the distant reletives can not change a thing, only the owner can. Where this is a legal binding contract, the named beneficiaries will be up-held if this was challenged in court. 4lifeguild

Can an insurance company act as the trustee of a life insurance policy for the beneficiaries?

Such a situation would assume there is a trust in place. A good lawyer would suggest a interested party such as a family member.

Can someone contest a will if they are one of the beneficiaries?

In order to contest a will, one must have an interest in the will. That would be any beneficiary or natural heir. Most contesting is done by a family member that has been excluded from the will.

What do all the family photos suggest?

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What is your income in top 2 percent family earners in US?