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If there are two beneficiaries one dies do my parents need to change their will?
Wiki User
∙ 14y ago
They don't have to change the will, but it is a good ideal. If both beneficiaries die, then it is considered 'intestate' without alternates, and state law will determine the inheritors of the estate without indication from the deceased about their wishes.
Wiki User
∙ 14y ago
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What happens when your father dies and his name was not on your birth certificate because he was not married to your mother and his beneficiaries are his parents who are deceased?
You need to step up and make claim against his estate as a possible heir as soon as possible. Contact an attorney about this. Biological children have inheritance rights even if their parents were never married.
Who needs to be contacted when a person dies?
All possible debtors need to be contacted. All natural heirs and any beneficiaries of the will also need to be notified. These are the responsibility of the estate.
If there are two beneficiaries and one dies previous to the insured do proceeds go to the surviving beneficiary or half to the dead beneficiary's heirs?
There is no single answer to your question because the facts may be different in different cases. First, the insured should change the beneficiary designation if a named beneficiary dies before the insured's death. That will avoid problems later.A beneficiary designation may include additional instructions when two or more beneficiaries are named. First, the insured can name "contingent" beneficiaries who will take a deceased beneficiaries share- on any life insurance policy. Second, the beneficiaries may be named as beneficiaries "per stirpes" or as "joint with the right of survivorship" where if one dies their share passes to the survivor.You need to check the designations on the particular insurance policy, the policies of the particular insurance company and the laws in your jurisdiction.
Is a beneficiary required to accept any form of payment the trustee mandates from an trust?
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
If a 19 year old son dies and leaves no will or beneficiary does the mother get his saved money and need to pay his medical credit card bills?
Because he is an adult, the 'estate' such as it is, should be probated. The estate will advertise for debtors and use what money it has to pay off the debts. If there is money left over and no spouse or children, the parents would be the primary beneficiaries.
Do retirements with beneficiaries need to be included in an estate?
Yes.
Can changes be made to beneficiaries in a revocable trust that was originally prepared by an attorney?
Yes, changes can typically be made to beneficiaries in a revocable trust that was prepared by an attorney. You would need to work with the attorney who drafted the trust to amend the document and update the beneficiaries accordingly.
How do you chose the beneficiaries to your life cover plan?
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.
Can you cash in my policy if my benificary died before me?
The owner of the policy can change beneficiaries at any time. The owner can also determine whether to continue making premium payments, take a policy loan, or take back the cash value of the policy. If the primary beneificiary died there may no longer be a need to keep the policy. You can change beneficiaries, or cash out the policy.
What if beneficiaries of a trust want to remove a beneficiary from a revocable trust?
You need to review the trust document to determine whether the beneficiaries have that power and how it must be exercised.
If your dad purchased life insurance on you and he died before you died where does the money go?
If your Dad was the beneficiary of the life policy you would need to change beneficiaries at theis time. I can help. 4lifeguild
Do you need both parents permission to change your name if your mom has full custody and approves?
No
