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If a deceased parent has life insurance with a step child as the beneficiary can the biological child with power of attorney be granted insurance monies?
Wiki User
∙ 15y ago
No. The only person that can have that money is the beneficiary on the account. And then whatever is stated in the will. All the POA does is allows the POA to sign on your behalf if your not present or unable to do it because of your health.
Wiki User
∙ 15y ago
Wiki User
∙ 6y agoNo. A named beneficiary will receive the proceeds from a life insurance policy after the death of the insured. That was the decision made by the owner of the policy. An attorney in fact under a POA acts on behalf of a living person called the principal. When the principal dies the POA is automatically extinguished.
Wiki User
∙ 9y agoA power of attorney represents a living person. After their death, the step mother no longer has a power of attorney. The executor executes the will.
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Who becomes the executor of your sister's estate if she died without a Will and failed to change your deceased mother as her life insurance beneficiary?
The succession would be the biological father. If he is deceased, then the oldest biological sibling. The siblings can agree to appoint 1 sibling who is not the eldest, but the agreement should be in writing. You should likely consult an attorney to be sure what to do. The life insurance company would likely need something from a Court for Intestate deaths.
Life insurance part of estate?
Life Insurance and EstatesNO, not if the named beneficiary is not deceased. The proceeds of a life insurance policy belong to the named beneficiary not to the deceased. It should not under any circumstances be included in the estate of a deceased or the probate process. If no beneficiary is named or if all beneficiaries are deceased then their is no alternative. When their is no named beneficiary then the value of the life insurance policy reverts to the insured and must then be included as part of the deceased estate
What happens if the beneficiary of a life insurance policy is deceased?
Generally, if the beneficiary is deceased, the proceeds go to the contingent beneficiary, or if none, to the estate of the insured. An attorney must be consulted to direct you on how to handle this in your state. It depends on whether the beneficiary predeceased the insured. If the beneficiary died before the insured then the proceeds go the the contingent beneficiary. If there is not a contingent, check the contract, it probably is paid to the Owner of the Estate of the Insured. If the Beneficiary died after the Insured, the proceeds go to the Beneficiary's Estate. It is important to have a contingent beneficiary specified in your life insurance policy. This way, if the beneficiary passes away, the contingent beneficiary will benefit. If there is no contingent beneficiary, and the beneficiary has deceased, the proceeds of the life insurance policy, go to the estate and is distributed according to the Will.
Is life insurance considered as the estate of the deceased?
only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.
What is a deceased beneficiary?
A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.
Can ex-spouse collect deceased husbands insurance if first deceased wife name is still listed as beneficiary?
No, an ex-spouse can't collect a deceased husbands insurance if the first wife is listed as beneficiary even if the fist wife is now deceased. The money will go to the beneficiary's heirs.
Is life insurance consideredpart of the estate?
If the insurance policy owner did not specify a beneficiary or the beneficiary is deceased, then the life insurance proceeds go to the insured's estate.
Is life insurance considered part of deceased persons estate when money is owed to loan companys?
If the life insurance has a named beneficiary then life insurance benefits are not subject to debtors claims. If there is no beneficiary or the "estate" of the deceased is the named beneficiary, then loan companies can come after the estate.
Who receives the money from life insurance if the beneficiary is deceased the insured or the heirs?
The contingent beneficiary, if one was named.
What is a decease?
A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.
How can second divorced wife collect deceased husbands insurance policy when first deceased wife of husband is still named beneficiary?
In order to ensure that a wife collects her deceased husband's insurance policy, it is beneficial to transfer the beneficiary of the policy while the husband is still alive. If the beneficiary of the policy is also deceased, it would be wise to seek legal help.
Does insurance money need to go to estate when deceased?
No, the insurance money goes to the beneficiary named in the policy. If the beneficiary is not named, or the estate is named, it will go into probate.
