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Possibly. First, if the policy states that the proceeds go to a specific named beneficiary, then the executor has no authority at all over it. In fact the executor has no right to even collect it for that beneficiary. Second, if the policy is payable to the estate, then the proceeds are to be distributed according to the terms of the will, not his own choices. Sometimes insurance is payable to an estate if the decedent names his estate as the beneficiary (highly unlikely) or if the named beneficiaries hav predeceased and there is no one left to receive the proceeds (it does happen but rarely).
What else can I help you with?
Can the executor sell sisters life estate with no insurance on house or needs repairs?
An executor cannot sell the life estate. If the sister was given a life estate she has the right to the use and possession of the property for life. The property cannot be sold without her written consent.
What steps should I take to give my life insurance in life annuities, as opposed to a lump sum?
Many life insurance companies simply give you the option for the payout. Simply contact the company and explain this to them, either over the phone or in person is best. You have the right idea, as that way your daughter can't accidentally spend the entire thing.
What is the executor on a life insurance policy?
The Policy Holder of a life insurance policy is the executor of the said policy.
Can a life estate in residence also be the executor?
There is no general law that prevents a person from granting a life estate to an executor.
What is a Life insurance average payout?
100% of the amount of the policy...each of which are purchased for a specific amount, or amount of payout.
Will accidental life insurance payout if alcohol related?
No.
How much is the basic payout for life insurance?
There is no basic payout. The death benefit is whatever the insured chose to insure himself for.
Where is the Payout chart for lucky for life?
On the backside of the betting slip.
How much tax is paid by a beneficiary of a life insurance?
A life insurance payout is not taxed.
Do I pay taxes on a life insurance payout?
If the owner of the policy is not a business, you would not have to pay taxes on a life insurance benefit payout. You should consult with a tax professional in your state for more details.
What is the payout structure for an annuity life insurance policy?
The payout structure for an annuity life insurance policy involves regular payments made to the policyholder either for a set period or for the rest of their life, providing financial security and income.
Will accidental life insurance payout if aneurysm?
No, it will not pay. An aneurysm is not an accident.
