Yes, you can have multiple primary beneficiaries, and contingent beneficiaries.
Yes. He should name you as the beneficiary and your children as contingent beneficiaries. That way it will not become part of his probate estate.
I have life insurance on myself and I list my parents as primary beneficiaries and my siblings as contingent beneficiaries because I'm single and want to leave something behind to them in case I die.
Essentially what you need to do is to designate your grandchildren as "contingent beneficiaries" of the insurance policy. Assuming that your child(ren) is now the only person(s) designated as the beneficiary(ies), you would need to contact the agent who sold you the policy, or the insurer itself, and request the proper form by which to add the contingent beneficiary. You would then return the completed and signed document to the agent or the insurer, as directed. A potential complication exists if your grandchildren are minors at the time of your death and your children have predeceased you. The problem is that the insurer will generally be unwilling to pay the proceeds directly to a minor, even if he/she/they are the designated contingent beneficiaries. Therefore, you should think through whom you wish to designate the recipient of the proceeds on behalf of the minors and designate that person/persons/institution as the recipient of the policy proceeds. You can also consider the establishment of a trust to serve that purpose, but you will want to get legal advice to do that.
Think of it as Primary and Contingent. If the Primary deceases before or with you the benefits would go to the contingent or secondary. Obviously if the primary deceased you would want to change your beneficiary assignment at that time. 4LifeGuild
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.
It has to do with someones benefits for beneficiaries for life insurance, 401k, etc. Primary would be the person who is your first choice to receive the benefit's. Contingent would be the person who receives the benefits if the primary person is dead.
No. If the trust was created to hold the real property then the trustee of the trust will be listed as the owner. If the beneficiaries are listed in a deed as the owners the property will no longer be held in trust. The property must be held in the name of the trust OR the name of the beneficiaries of the trust as individuals.
To choose the beneficiaries to your life cover plan you need to consider who you want to benefit in the event of your death. Most people choose their spouse and children as their beneficiaries.
No if their names are on the accounts then it is their money already.
no
If the exact language on the policy is "all her children" then no, the benefit will be split evenly between all of her living children. They will each receive a check for their portion of the benefit.