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Is an Insurance check for roof repaires considered part of your estate in bankruptsey?
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Is a life insurance policy considered an estate?
It depends on the beneficiary of the policy. If it say estate, yes.
If life insurance is considered part of an estate is that money used for medical bills and debt?
Life insurance is not considered part of an estate and is not available to pay the decedent's bills and debts. Even if there is no money whatsoever to pay bills, the insurance is not part of the estate. The only exception would be if there were no existing named beneficiaries or if the policy is payable to the estate. But even there, keep in mind that it isn't the "insurance" money that is now available to pay the debts. It is "estate" money, because the proceeds were payable to the estate. The Federal government will include life insurance proceeds as part of the gross estate for federal estate tax purposes, but that does not mean they are actually part of the 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.
Are retirement benefits the same as life ins on an estate?
Retirement Benefits after Death?NO. Retirement benefits cease once a person dies and therefore would not be part of an estate. When a person Dies, they are no longer considered "Retired", They are after death considered "Expired".Life insurance also is not part of an estate unless there is no named beneficiary. The proceeds of a life insurance policy belong to the beneficiary named on the policy, Not to the deceased nor to the deceased estate.
Who does a North Carolina real estate company have to cover with workers compensation insurance?
This would depend on the agents relationship with the company. Often times real estate agents are considered subcontractors and as such they would not be covered under workers compensation insurance.
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.
Can a claim on your dead husbands estate also include life insurance to spouse?
If the life insurance policy had listed as the beneficiary the spouse only then it is not considered part of the estate and is not subject to claims. If the beneficiary is the estate then it is subject to claims. The only problem with the spouse being the only beneficiary is if she was a party to the claims personally then perhaps she and the proceeds from the life insurance could be subject to these claims.
In Ohio are life insurance polocies and 401K accounts considered part of the decedants estate?
401 K assets are considered part of an individuals estate for Federal Estate Tax purposes. Life Insurance would also be includable in the gross estate if the decedent owned the Insurance Policy. However if a Irrevocable Life Insurance Trust (ILIT) owned the Insurance Policy it would be excludable from the decedent's estate if the policy was transferred to the Trust 3 years prior to the decedents death. If the policy had been transferred to the Trust within 3 years of the decedents death it would be includable in the decedeants gross estate due to the "3 year throwback rule." The way around the three year throwback rule is to have the (ILIT) be the applicant and owner of a new life insurance policy when the insurance policy is first set up. If that is not possible then be aware of the 3 year throwback rule and hold your breath.
If you are beneficiary of life insurance policy is the administrator of the estate supposed to get your money?
Life insurance with a beneficiary is completely separate from the "estate". If you receive life insurance, it's your. The estate includes bank accounts, homes, cars, etc. not the life insurance
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 term life insurance considered part of a deceased persons estate if the deceased person is being sued. I was his wife and benificary of the term life insurance?
In your case, no, the proceeds will not be included in the estate of the decedent. Since you were the named beneficiary the proceeds pass directly to you. Of course, upon your death they will be included in your estate. Whether or not a judgment against your husband will allow the other party to go after your assets is obviously a more complicated question. But the life insurance is not part of his estate.
What has the author James C Munch written?
James C. Munch has written: 'Life insurance in estate planning (Little, Brown estate series)' 'Life insurance in estate planning' -- subject(s): Estate planning, Law and legislation, Life Insurance, Taxation
