No. A beneficiary has no authority to name a beneficiary of another's property. Only the principal can name the beneficiary. Generally, if the primary beneficiary declines to accept the inheritance then the gift will lapse and the property will be included in the estate.
Yes. You should also name a contingent beneficiary in case the primary beneficiary predeceases you.
No. You can name who you choose as your beneficiary.
A person can name anyone they choose to be a beneficiary. This can include a friend, child, spouse, parent or other relative. Some people even name organizations or charities as a beneficiary.
A person who inherits a will is commonly referred to as a beneficiary.
Beneficiary's obligationThe beneficiary has no legal obligation to pay the bills solely in the name of the insured.
The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.
Yes, the beneficiary of an inherited IRA (AKA beneficiary IRA) can name a beneficiary to that account. In the past, this was not really allowed so some form may still practice as such.
Well, it's the duty of the Insurer to intimate the deleted benficiary in writing about deletion of his/her name from the beneficiary name of the particular policy,to avoid confusion in future.
The owner of the policy can change the beneficiary of the policy. If the original beneficiary has died before the insured, the owner of the policy can designate a new beneficiary at any time.
If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do). Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named. There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.
generally nothing. Insured person can name another beneficiary.