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Can a beneficiary refuse an inheritance?
Yes, a beneficiary can refuse or disclaim an inheritance. By doing so, the inheritance would typically pass to the next beneficiary in line as specified in the will or according to state laws of intestacy. It's important to follow proper legal procedures when disclaiming an inheritance.
If a beneficiary inherits a home in Texas can the beneficiary give it back to the bank if the beneficiary lives in another state?
Yes. If the beneficiary does not want to assume the financial responsibility of the property he or she is not legally entitled to do so. They may refuse the bequest and the issue will be disposed or distribted according to the state probate laws.
Can a beneficiary refuse a pension?
I'm sure they would be more than willing not to pay you but really why would you want to refuse it. If you have to receive it you could just bank it or donate it to a worthy cause.
Can you as a trustee refuse to give the money to a beneficiary who is in jail?
As a trustee, you have a fiduciary duty to act in the best interest of the beneficiary. If delivering funds to a beneficiary in jail could result in harm to the beneficiary or undermine the purpose of the trust, you may have the right to refuse distribution. Depending on the terms of the trust and applicable laws, seeking legal advice before making a decision is advisable.
Can a beneficiary on life insurance refuse the responsibility?
It is not a question of refusing responsibility. The beneficiary is the person or institution designated to receive proceeds upon the death of the insured. He/she/it has no obligation to pay future premiums. However, the beneficiary is free to decline the proceeds in which case they will be paid to a contingent beneficiary listed in the policy; in none, the proceeds will be paid to the insured's estate.
How long does it take to get a settlement from life insurance companies?
On average a company has 60 to pay the settlement or notify the beneficiary if there are any problems concerning the settlement. If the beneficiary killed the insured person the company can refuse to pay.
Can A beneficary refuse life insurance benefits?
You can certainly deny the payment, to do this you must sign and file a "Qualified Disclaimer" The payment will then be given to the next beneficiary on the list.
Can a lawyer refuse to talk about a will while the beneficiary is present?
The will the private business of the will writer. The lawyer should not talk about the will with anyone but the testator. To do anything else would be a breach of confidentiality.
Can your family member who is executor and beneficiary of estate refuse to pay deceased debts?
The executor cannot refuse to pay properly documented debts. They do not have to pay them personally, the money comes from the estate. If there isn't any money, they show the court the assets and distribution and the estate is closed.
What is the possessive form of beneficiary?
The possessive form for the noun beneficiary is beneficiary's.
Can you pay a beneficiary with stock?
The answer depends on the facts of the particular situation, how the will reads, what the beneficiary is given under the will and other factors. Also the laws of the state of probate should be taken into consideration as well as they might have a bearing. In the typical case where a beneficiary is given a specific dollar amount of money, you cannot pay the beneficiary with stock unless the beneficiary and the residuary legatees agree to it. If the beneficiary is given the stock itself, then the beneficiary must be paid with that stock unless he directs the executor to sell it and give cash instead. Even in that case an executor might refuse to sell the stock and tell the beneficiary to sell the stock himself after he receives it. If the beneficiary is given a portion of the residuary estate (which would include all sorts of assets) the beneficiary has the right to request the stock itself, but only in proportion to his/her share in the residuary. If the situation is that there are two residuary legatees and the value of the estate available for distribution is composed of cash and stock having equal value, the executor cannot force one beneficiary to take the stock and the other to take the cash unless that is what they agree to.
where is infomation on beneficiary?
where is infomation on beneficiary
