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What happens if sole beneficiary dies before estate is settled?
If the beneficiary died after the testator you must review the will to make certain there is no set time period the beneficiary must survive the testator. If there is no such provision then the gift becomes part of the beneficiary's estate.
What happens when the beneficiary becomes mentally ill in a will at the time of death of the testator?
The mental status of the beneficiary has no bearing on distribution. If they have been declared mentally incompetent, the inheritance will be added to the trust for the beneficiary.
What happens to a beneficiary designation if the beneficiary dies - is there any protection for the beneficiary's children?
Generally the language in the will directs how the estate will be distributed provided that the will was carefully drafted by a competent attorney. A gift to a deceased beneficiary may pass to her/his heirs, her/his siblings or may lapse and pass into the residuary of the estate to be shared by all the other beneficiaries. The testator has the power to decide while the will is being drafted. If the testator has died you should have the will reviewed by an attorney to determine who receives the share of a beneficiary who predeceased the testator. If the will has been filed for probate then speak to the attorney who is handling the estate.
What happens to a beneficiary designation if the beneficiary dies is there any protection for the beneficiary's children?
Generally the language in the will directs how the estate will be distributed provided that the will was carefully drafted by a competent attorney. A gift to a deceased beneficiary may pass to her/his heirs, her/his siblings or may lapse and pass into the residuary of the estate to be shared by all the other beneficiaries. The testator has the power to decide while the will is being drafted. If the testator has died you should have the will reviewed by an attorney to determine who receives the share of a beneficiary who predeceased the testator. If the will has been filed for probate then speak to the attorney who is handling the estate.
Do you have any equity interest as beneficiary of a will?
You have whatever interest is bequeathed you under the Will. If that's an "equity interest" (whatever that is), then, yes. You only acquire your interest upon the death of the testator. Until that happens you have no interest in any property devised to you in a will. Clarification: If you are asking whether you have an expectancy under the Will of a testator who is still alive, no. The Will can be revoked as long as the testator has capacity. An exception would be in a situation in which the testator has obligated himself by contract to make you his beneficiary.
What happens when the executor dies before the distribution to the beneficiary and the beneficiary dies and has no heirs?
You need to speak with the attorney who is handling the estate. There are many variables in your situation that must be reviewed by an attorney.The court would need to appoint a new executor. The timing of the death of the beneficiary would dictate where the property will go. If the named beneficiary died prior to the testator then the property will remain in the testator's estate and be distributed as intestate property to the heirs-at-law of the testator. If the beneficary died after the testator died then the property is in the beneficiary's estate. That estate would need to be probated and any intestate property would 'escheat' to the state if there are no heirs-at-law. If the beneficiary has a will, the property would pass according to the will once it has been probated.You can check the laws of intestacy for your state at the related question link provided below.
If a beneficiary in your will dies before you what happens?
It will depend on how the will was written. Depending on the wording, it may go to the beneficiary's heirs, or it may be divided up between the other beneficiaries of the original will. If the testator is aware of the death of a beneficiary they should amend their will. If they don't, then see the information in the related question link provided below.
What happens when a testator owned two cars and gives a gift of a car without specifying which one?
Generally, if the testator provided that the beneficiary was to receive one of her two cars and didn't specify which one, the beneficiary would get to choose. If there are objections made the court would have to decide the outcome.
What happens when a beneficiary of a will dies before his or her share of the inheritance can be distributed?
If there are no stipulations in the will as to what should be done in the event one of the beneficiaries should die, then the state probate succession laws apply. The executor should contact the probate court for instructions as to the manner in which the deceased beneficiary's share of the estate is to be distributed.
What happens to your share if you predecease the owner of a Transfer on Death account?
That depends on how the owner of the account has arranged the beneficiary designation. There may be a contingent beneficiary or the gift may lapse and become part of the testator's intestate estate. In that case it would pass to the heirs-at-law. That question should be asked when the beneficiary designation is arranged at the bank.
What happens when one of two beneficiaries dies before claiming the money in il?
When a beneficiary dies before a testator there are two things that can happen--either the gift will lapse, meaning that it will not pass to them but will stay with the estate or the gift (in this case money) will go to the family of the now deceased beneficiary. Whether one happens over another will depend on the wording in the will and the nature of the gift
What happens if the Witness of a will dies before testator?
Nothing.
