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What else can I help you with?
Life insurance part of estate?
Life Insurance and EstatesNO, not if the named beneficiary is not deceased. The proceeds of a life insurance policy belong to the named beneficiary not to the deceased. It should not under any circumstances be included in the estate of a deceased or the probate process. If no beneficiary is named or if all beneficiaries are deceased then their is no alternative. When their is no named beneficiary then the value of the life insurance policy reverts to the insured and must then be included as part of the deceased estate
Does insurance money need to go to estate when deceased?
No, the insurance money goes to the beneficiary named in the policy. If the beneficiary is not named, or the estate is named, it will go into probate.
Is it legal to read a will when the deceased isn't actually deceased?
Only if you are the estate lawyer or have been named executor of the estate. No one else should be allowed to have a copy.
What does the executor of a will do if someone mentioned in will is deceased?
They will look to the wording of the will. It should specify whether that share goes into the general estate or to the deceased named person's estate or heirs.
Is life insurance considered as the estate of the deceased?
only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.
Is life insurance considered part of deceased persons estate when money is owed to loan companys?
If the life insurance has a named beneficiary then life insurance benefits are not subject to debtors claims. If there is no beneficiary or the "estate" of the deceased is the named beneficiary, then loan companies can come after the estate.
Who can claim interest in a deceased estate?
Any natural heir Anyone named in a valid will Anyone owed money by the estate.
Can a cousin be an executor?
Certainly. Anyone can be named an executor of an estate, whether related to the deceased or not.
The Executor in a Will is deceased. Can a sibling of the deceased now be appointed?
The court will look at the Will to determine if an alternate executor is named. If not, then the state probably has a list of people, in order, who should be named as administrator of the estate. Relationship to the deceased executor is irrelevant.
How can one become named as the executor of an estate?
To become named as the executor of an estate, an individual typically needs to be designated as such in the deceased person's will. The executor is responsible for managing the deceased person's assets, debts, and distributing the estate according to the will's instructions. It is important to consult with a legal professional to ensure all necessary steps are taken to become the executor of an estate.
Is the spouse named on the loan or the estate of the deceased spouse responsible for the debt of joint owned loans?
Yes.
What if no beneficiary is named on a life insurance policy and they have a spouse what happens?
If an insured has a policy where there is no named beneficiary, or the named beneficiary is deceased, then the benefit will be paid to the insured's estate.
