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How are YOU related to the decedent? Your posting is a bit confusing. Is it the decedent's niece who was named beneficiary or is it YOUR niece? Is it the decedent's husband who was married to the decedent for 10 months? If you are the decedent's husband, then you have automatic rights to a portion of the estate by virtue of your being a surviving spouse and if your wife did not name you as a beneficiary in the will, then you need to take a copy of the will to a probate attorney to have it evaluated to see if you have strong enough legal grounds to contest the will or have other avenues to claim your statutory share of her estate. Was the will done before she married you?
What else can I help you with?
Can a 50 percent life insurance beneficiary be forced to pay 50 percent of the funeral costs?
There is no requirement that they do so. The life insurance is a contract between the deceased and the company.
Can a heir reject life insurance My brother had life insurance no beneficiary. Parent will be getting 50 percent each if one parent rejects there end will the other parent receive the full amount?
NO. Your question is a bit confusing. First you state their is no beneficiary but then indicate the parents may be the beneficiary. Normally life insurance proceeds do not go through an heirs probate process. Life insurance goes directly to the designated beneficiary outside of any probate process unless no one has been designated or the designated beneficiaries are themselves deceased. If there is no designated beneficiary at all, the life insurance will default to the estate of the deceased for probate and apportionment to the heirs. If there are 2 equal 50 percent designated beneficiaries and one rejects their 50 percent portion, that 50 percent will be assigned to the estate of the deceased for probate and then be apportioned to the heirs of the deceased. An heir can assign his or her inheritance to another heir if they so choose. If the heirs reject the proceeds of the life insurance disbursed by the estate and then also decline to assign it to another heir, then those proceeds will default to the government.
Can you leave 50 percent to the primary beneficiary and 50 percent to the contigent beneficiary?
Yes. But you are using the wrong terms. You can leave 50% to each of two beneficiaries. The second will no longer be called the "contingent" beneficiary.
You live in Houston Texas and your wife wants you to be sixty percent beneficiary and our two adult children twenty percent beneficiary each How can you change this to where you get 100 percent?
If it is your wifes policy and she is the owner, only she can change the beneficiary designation. It does not matter what state you live in. 4LifeGuild
If five siblings are left 40 percent of estate and three siblings are deceased who gets the balance when there is no mention of the three deceased heirs or per capita?
If the three deceased heirs aren't mentioned then the 40 percent will be distributed to the two remaining siblings and the family of the three deceased. It is likely that the three deceased siblings had a will that will ultimately determine what needs to be done with their portion.
We asked 100 wives what percent of the housework does your husband do?
1002550
Can the estate of deceased file bankruptcy because one trustee and beneficiary embezzled 100 percent of assets of the estate despite a court order for equal distribution with a beneficiary?
Estates are not legal entities or persons and cannot file federal bankruptcy. Most states have a separate procedure for bankrupt probate estates, so you need to consult a local estate lawyer.Embezzlement is actionable either criminally or civilly or both, and in the context you gave, contempt would also lie. A few hours in jail might improve the ability of the embezzlers to find the money.
What percent of donation from family and friends can go towards the cost of a eagle project?
Any. Be aware that the donation is not to the BSA, it is to the beneficiary of the project. As such, the tax status of the donation would depend on the group being served.
What should you do for a fundraiser?
Set your Ballet program up on Support My Program, and get all the parents/supporters to do their online shopping with your ballet program designated as the beneficiary. You'll get a percent of every sale. Easy and free.
How do you you determine how to break up the percent of life insurance when you have more than one beneficiary?
It's personal choice. Some people may split it evenly amongst the beneficiaries, while others may decide that one beneficiary is in need more than others. Think about why you are getting life insurance in the first place, and then think about who the beneficiaries are and if their needs are the same or not.
When can a wife access a husband's IRA without penalty when he has passed away?
Generally, early distributions from an IRA are subject to a 10-percent tax in addition to the regular income tax on your total income. Early distributions are amounts that are distributed before you reach age 59 1/2. There are several exceptions to the age 59 1/2 rule. The beneficiary of a deceased IRA owner is exempt from the additional 10 percent tax. If you choose to treat the IRA as your own, other requirements apply. For more information, go online at www.irs.gov/formspubs. Select Publication Number. Type 590 to read/print Publication 590 (Individual Retirement Arrangements). Another helpful source is Tax Topic 557 (Tax on Early Distributions from Traditional and Roth IRAs), available online at www.irs.gov/taxtopics.
Choosing the Right Life Insurance Beneficiaries?
Life insurance is often purchased on the advice of an attorney when writing your will and planning your estate. When you purchase a life insurance policy, you need to name someone as the beneficiary of the policy in the event of your death. The beneficiary of a life insurance policy is the person who receives the insurance money after the death of the insured person. Anyone can be named as the primary beneficiary of your life insurance policy. In most cases, the person you choose will be your spouse. If you live in a community property state, laws in those states require you to name your spouse as beneficiary unless he or she has given you written permission to name someone else. You can also name a contingent beneficiary that would receive the proceeds of your life insurance if your primary beneficiary is deceased. You can also name two or more people as your primary beneficiaries. For example, if you have no spouse or children, you may choose two siblings to share the proceeds of the policy. In this case, specify the percentage of the proceeds that each sibling gets, i.e. fifty percent each, instead of an exact dollar figure. If you have minor children, your main reason for purchasing a life insurance policy may be to provide for their care until they reach adulthood. You and your spouse need to name a guardian for your children in your will, especially in the event that you both die at the same time. The beneficiary of your life insurance policy in this case could be the named guardian or a trust fund set up to hold the policy benefits. If you are a single parent, these decisions are critical to your children's future. You should avoid naming your estate as beneficiary since all assets in your estate must be distributed to the appropriate heirs by a probate court. Probate court proceedings can significantly delay payment of benefits to your loved ones. If a specific person has been named as the beneficiary, the proceeds are paid directly to that person and are not subject to the probate court. After you are satisfied with your beneficiary designation, you should periodically review your estate plan and will. You can easily revise the beneficiary to your life insurance policy when changes occur in your life.
