An emancipated child is considered an adult. They are entitled to receive any benefits assigned to them. If they are not emancipated, the money will go into a trust for them.
No but what you do with the money may be taxable.
A minor under the age of 18 can be emancipated upon a showing of maturity and financial independence. Once emancipated, the minor no longer has a right to receive financial support from his or her parents.
Usually, the cut-off is age 18.
Child support is not dischargeable in bankruptcy. It may be discharged for a number of other reasons: child deceased; child emancipated, etc.
No
The children or heirs of the deceased will receive the benefits in a situation including a second to die insurance policy. It is also goes by the terms "Dual Life Insurance" and "Survivor-ship Insurance".
yes, they will see it. I'm on my spouse's insurance policy and I can log online into his insurance and see all details about the claims .
In Massachusetts, a young woman can receive government assistance if she is legally emancipated and independent from her parents. In order to receive such benefits, she must meet certain criteria such as having a certain income and living by herself.
You can only collect on the life insurance if you were awarded this at time of divorce. I was awarded the ability to take out a life insurance policy on my ex. as I receive a military retirement which only exists if he is alive. After his death, it would stop, therefore I have the life insurance policy.
An insurance policy and a will are two separate things. The policy is a contract between the insured and the insurance company. The beneficiary of the insurance policy is spelled out in the contract. The insurance company will pay the insurance proceeds to whoever is listed to receive the proceeds. The proceeds from an insuranc policy can be paid into the estate of the deceased and disbursed according to the terms of the will. The issue is who is listed as being the beneficiary of the insurance policy.
With most insurance companies, your rates will go up because you will lose any multi-car or multi-line discounts you might have been able to receive because of your parents' policies.
Yes, a sister can potentially draw benefits from a deceased person, depending on the deceased's estate plan and applicable laws. If the deceased had a will or trust that names the sister as a beneficiary, she may receive assets or financial benefits. Additionally, certain social security benefits or life insurance proceeds may be available to siblings under specific circumstances. However, this varies by jurisdiction and the details of the deceased's financial arrangements.