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My deceased husband paid into GM retirement for 11 years and I need to know if I can received what he paid.
That depends on a number of factors. First what are the guidelines within the annuity itself. Second if there are named beneficiaries then if there are proceeds to be distributed they would receive their share. Third it all depends on how the purchaser of the annuity chose to have the proceeds distributed.
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.
The proceeds of a life insurance policy are paid directly to the beneficiaries without going into the estate of the person. The only way that life insurance proceeds become part of an estate is if the the beneficiary is listed as "Estate of the Insured". In this case any expenses of the estate are to be paid out before the heirs receive a share. If there are beneficiaries on the policy, the life insurance company will pay the beneficiaries directly.
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.
Yes. Having a retirement account such as a 401k or an IRA will not affect your ability to draw social security benefits.
NO. Your question is a bit confusing. First you state their is no beneficiary but then indicate the parents may be the beneficiary. Normally life insurance proceeds do not go through an heirs probate process. Life insurance goes directly to the designated beneficiary outside of any probate process unless no one has been designated or the designated beneficiaries are themselves deceased. If there is no designated beneficiary at all, the life insurance will default to the estate of the deceased for probate and apportionment to the heirs. If there are 2 equal 50 percent designated beneficiaries and one rejects their 50 percent portion, that 50 percent will be assigned to the estate of the deceased for probate and then be apportioned to the heirs of the deceased. An heir can assign his or her inheritance to another heir if they so choose. If the heirs reject the proceeds of the life insurance disbursed by the estate and then also decline to assign it to another heir, then those proceeds will default to the government.
It depends on the terms outlined in the deceased person's will and retirement account. If the sole beneficiary is named as the beneficiary in the retirement account documentation, then they may be entitled to receive the funds. However, if there are specific instructions in the will regarding the distribution of the retirement account, those would generally take precedence.
The beneficiaries on your life insurance policy will receive the life insurance benefits. Please make sure your policy is updated with the correct beneficiaries. Many people forget to update their life insurance policy after divorce, or any other major life event and unfortunately the ex-husband or ex-wife receives the benefits. If all the beneficiaries named on the policy are deceased, then the benefit will go to the insured's estate (which may or may not go to the deceased children. The only way to ensure that the benefits are going to the intended person(s), is to update your insurance policy's beneficiaries.
No, the beneficiaries receive the estate. An executor could be a beneficiary
You need his signature and he will receive half of the proceeds unless you have a court order that says otherwise.You need his signature and he will receive half of the proceeds unless you have a court order that says otherwise.You need his signature and he will receive half of the proceeds unless you have a court order that says otherwise.You need his signature and he will receive half of the proceeds unless you have a court order that says otherwise.
Generally speaking, life insurance proceeds (death benefits) are received income tax free by policy beneficiaries. Any subsequent monies that are earned through investment of those proceeds, unless specifically invested in tax-free ionvestments, would be subject to state and federal income taxes.