If she is a joint account holder the account would now belong to her. If there is no joint account holder then the account would be legally frozen until an Administrator is appointed for your uncle's estate. Until then no one has any authority to access his bank account. You should make certain the bank has been notified of his death.
the amount left after uncle scumbag takes their cut
If you have income, you pay income tax. When I drew my first SSN check, I was quite surprised to find out Uncle Sam wanted his share of my share.
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Life Insurance is not tax deferred as someone mentioned erroneously here... Life insurance is a tax free benefit, so in general you cannot write it off on taxes.. And loans are also not taxable, so you can access the growth in your whole life tax free even if it grew interest (generally taxable) by utilizing a policy loan... In the case of S Corp's there are a number of allowable instances in writing off life insurance... Such as when an employer pays for life insurance as a part of a beneits package.. The business can write off those premiums.... But personally, its not the case... In general, if uncle sam can't touch the proceeds of a death benefit or tax its growth, then there is no way uncle sam will let you write those premiums off.. You have to pay taxes on those premiums in exchange for a much larger tax free benefit, or a tax free loan against what would be taxed if outright withdrawn..
She can probably find some financial institution that will do that for her. She would also be confronted by many that would not.
Generally, no.
My Uncle, Ian Adams. He was a nice guy, my uncle, but unfortunately he is now deceased. :(
An executor of the estate does not have the right to "take everything". Rather, the executor has the responsibility to execute the will of the person who died. If the deceased had no will and no immediate relatives, it gets more complicated.
Yes, if they were married she would still be your aunt
Before she died, your wife was his aunt and your were his uncle. He never referred to you as his uncle-in-law and you never called him your nephew-in-law. Now that your wife is gone, you are still his uncle and he is still your nephew, period. Or, if you need to be very precise because you find another relationship developing in your life, he is your "deceased wife's nephew."
Your aunt marrying your friend's uncle does not make you and your friend blood relatives. I don't think there would be a problem with you and your friend marrying.
Your dad's brother is your uncle. If your uncle married your friend's aunt, that does not make you and your friend any more related than you were before. However, your uncle's child is your first cousin, and also your friend's first cousin.
If you are talking about the friend of one of your uncles, then yes: I spoke to Tom, who is my uncle's friend.
Bobby Rae
my friend aunt and uncle owns it haha
just be there to comfort him and tell him if he needs anything to let you know because my uncle died today.