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Can a bank provide a loan to an estate beneficiary if the will is true to what is stated within?
Yes, but only if ALL of the following are true:
* The death is not contested
* The will is not contested
* Probate debt is clear
* Beneficiaries are well defined
* Beneficiaries shares are well defined
The higher the amount of complexity in the estate and the will, the longer that it will take for the beneficiaries to receive their share of the estate. There are few banks that will take a risk on that complexity until there is a clear ownership of the assets and that will only be made clear during the end of the probate process.
What else can I help you with?
Does a life insurance beneficiary have to disclose dollar amount to trustees of estate?
If the beneficiary of a life insurance policy was an individual person then it is not included in the assets of an estate unless the policy was purchased within three years from the date of death. This could vary from state to state and from time to time. I would not say that you shouldn't cooperate with the trustees of the estate and to give them information they request. If however they ask you to pay any taxes or legal fees that is the time when I would no longer cooperate. I would make it clear that you have no desire for obligation for legal fees or taxes and that you are not subject to such.
How long does a life insurance company take to pay the benefits to a beneficiary?
Once you send in the beneficiary claim form and an official death certificate, the benefits are usually paid within one to two weeks.
What are the disadvantages of budgeting?
THE BENEFICIARY OF THE BUDGET WILL BE FORCED TO USE WITHIN THE CALENDAR YEAR AND WILL AND SHOULD TRY TO JUSTIFY THAT NEXT BUDGET SHOULD BE HIGHER.
Best investments to double your money?
Real Estate should double your money within 5 years.
How long do you have to repay loan to deceased estate?
The timeframe to repay a loan from a deceased estate typically depends on the terms of the loan agreement and local laws. Generally, creditors must file claims against the estate within a specified period, often ranging from a few months to a year after the death. The estate's executor will determine the repayment schedule based on available assets. It's important to consult with a legal advisor for specific guidance based on jurisdiction and the estate's circumstances.
Who gets the insurance if the beneficiary cannot be found?
Normally, when one buys an insurance policy a primary beneficiary is designated, as is a "contingent" beneficiary. The latter is second in line to get the proceeds if the primary beneficiary predeceases the insured and the insured does not name a new primary beneficiary. Another circumstance for the contingent beneficiary to get the proceeds is when the primary beneficiary cannot be found. The beneficiary designation(s) on the policy may also provide in addition to, or instead of, a contingent beneficiary that the proceeds get paid to the estate of the deceased insured. If that is the case, the proceeds become a part of the cash assets of the estate and are distributed to heirs in accordance with the Will. If there is no Will, the estate is distributed according to the laws of descent and distribution of the state in which the insured died. If none of the foregoing applies, and after having made a diligent search for the beneficiary(ies), the insurer pays the proceeds to the unclaimed property authorities of the state in which the insured last lived. This is a government agency, or bureau within an agency, and is often annexed to a department of insurance or the chief financial officer of the state. There exists a national organization of unclaimed property offices.
Is a parent the beneficiary of their child's life insurance?
This all depends on who took out the life insurance policy and who was named as the primary beneficiary at the time. The primary beneficiary is named within the policy document. The primary beneficiary may or may not be the father and/or mother. If the primary beneficiary is deceased, then check the policy for a named contingent beneficiary. If there are no named beneficiaries living, then the policy proceeds become part of the policy holder's estate. Please consult with a qualified attorney, to determine guardianship of the child's estate. Ask the insurance agent and a lawyer for a free consult to be sure.
If the house was left by an uncle to the woman who was in it with him he has died when does it becomes hers?
The estate must be probated in order for title to the property to pass to the beneficiary. As soon as the will is allowed by the probate court title passes to the beneficiary. However, the estate must be probated and a notice published so creditors can file claims within the statutory period in your state. Once the probate proceeding is completed the beneficiary owns the property free and clear of any claims.
Does a life insurance beneficiary have to disclose dollar amount to trustees of estate?
If the beneficiary of a life insurance policy was an individual person then it is not included in the assets of an estate unless the policy was purchased within three years from the date of death. This could vary from state to state and from time to time. I would not say that you shouldn't cooperate with the trustees of the estate and to give them information they request. If however they ask you to pay any taxes or legal fees that is the time when I would no longer cooperate. I would make it clear that you have no desire for obligation for legal fees or taxes and that you are not subject to such.
Does a lawyer let you know if you are a beneficiary on someones life insurance?
A beneficiary is a third party to a contract between and insurance company (insurer) and an insured (customer). Since the contract allows the beneficiary to be changed at any time (revocable beneficiary), there is no way for any attorney to know in advance whether any one person is named as a beneficiary on a contract of life insurance. If someone you know has died, your first step is to determine if any life insurance exists. This can be accomplished by going through important papers, contacting employers, looking through bank statements for payments to insurers, etc. Once located, contact the insurer to file a claim. The insurer is required in most states to provide claim forms within 30 days. Once a proof of loss (claim form) is received, the insurer will begin the process of locating and paying beneficiaries. If no beneficiary can be found (alive or otherwise), the insurer will pay the estate of the decedent. Unfortunately, paying the estate can open the claim to creditors of the decedent and probate, depending on the rules of your specific state.
What is an executer of will?
It means whoever is deemed the executor of said will and/ or estate has now the responsibility and control over disabled/deceased individuals finances, properties, or just anything stated within the individuals will.
What are the best real estate firms in Oregon?
Zillow real estate is within Oregon. The Advantage Real Estate has offices within Oregon as well as other places around the country. Both of these are good to look into.
How long does a life insurance company take to pay the benefits to a beneficiary?
Once you send in the beneficiary claim form and an official death certificate, the benefits are usually paid within one to two weeks.
How you collect a judgment from the estate of a deceased individual?
contact the executor of the estate and file to collect it from the estate. you have to notify the estate of the debt. Depending on the state, most must be filed with the estate within 4 months of the said death.
The six goals of the constitution are stated within the?
Preamble
What two stated are not within the continental us?
Alaska and Hawaii
Should a life insurance policy be placed within one's trust to avoid probate?
It is usually not necessary to put ownership of Life Insurance into your living trust. I normally recommend that the policy be kept outside the trust as the proceeds will pass without probate. Discuss the tax considerations of who should be the owner with a tax professional familiar with estate taxes. I normally recommend that your spouse (if married) be the principal beneficiary of the insurance with your living trust as the contingent or secondary beneficiary. This way, if your spouse precedes you in death, the policy will pay proceeds to the trust which will distribute the proceeds with the rest of your estate exactly as you have planned without probate.
