That is one of the purposes of life insurance. The answer however is no, it would come out of the parents estate. If there is no estate than the gov could be SOL. BUT!!! It may behoove a child (depending on age) to settle the tab with all creditors and the IRS on behalf of the parent settling the estate with the insurance money rather than relying on a "fire sale" of the estate, and reaping the benefits of the estate at it's market value rather than a forced sale value....depending on the situation tho... 4lifeguild
An emancipated child is considered an adult. They are entitled to receive any benefits assigned to them. If they are not emancipated, the money will go into a trust for them.
Eighteen.
It is a type of life insurance policy beneficiary designation in which the life insurance benefits are divided among a class of beneficiaries, typically the children of the insured. Best explanation is an example: An insured has two children, and each of those children have two kids. If his children are listed as equal primary beneficiaries, they split the proceeds 50/50. However, if one child predeceases the insured, the surviving child received 100% of the proceeds. If the bene designation is the insured's children per stirpes, they still split the proceeds 50/50 if both alive when the insured dies. However, if one child predeceases the insured, the surviving child only receives 50% of the proceeds and the children of the deceased child will each get 25%, splitting the 50% that was designated for their deceased parent.
NO. Once the child is 18 or older, they can't receive SS benefits.
Survivor benefits are paid to children of a deceased worker.
Both parents of a deceased child have an equal right of inheritance. If one parent had custody that parent has the right to make funeral arrangements but the other parent should be consulted if possible.
No, the child needs to drive the other car. No, the child needs to drive the other car.
Not applicable. You will receive nothing more than the normal amount for a child of a deceased parent.
In order for your child to have insurance coverage, your child would need to be listed as a covered person on the policy, and a premium would need to have been collected for the child. Even if both parents are insured, if your child isn't on the policy and has not been considered as a portion of the premium, then there is no coverage.
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
No. Unfortunately, survivor benefits are only paid if the deceased earned wages and accumulated sufficient credits through FICA taxes.
Rights pertaining to what?