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What else can I help you with?
Can a power of attorney collect life insurance for a beneficiary on their behalf?
No, not without that persons consent. Not to mention that person would have to qualify.
If an inmates signs over power of attorney to a cousin how do they collect on a parental death insurance policy?
They don't, power of attorney doesn't make you the beneficiary. Only the person who owns the policy (usually the person the policy is on) can change the beneficiaries for the policy.
If an ex-spouse is listed as beneficiary on a life insurance policy does that person remain the beneficiary and receive the money in the state of Georgia?
Generally, yes. A person must be careful to change the name of the beneficiary on their life insurance after a divorce of death of the named beneficiary. You should consult with the attorney who represented the decedent in the divorce to determine the law in your state and whether the divorce decree extinguished the ex-spouse as the beneficiary.
Can a Power of Attorney also be a beneficiary?
No. That type of self-dealing would be too easy to challenge in court. It would constitute self-dealing by the AIF which is a violation of statutory laws that govern fiduciaries. An attorney-in-fact under a Power of Attorney should bot be involved with the making of a will. If the principal wants to make the AIF their beneficiary, the principal should have the will drafted and properly executed by an attorney.
Can you contest a life insurance beneficiary change?
The owner of a life insurance policy has the right to choose the beneficiary. Another person has no power to change that choice.
Is a general power of attorney allowed to add self as contingent benefactor on life insurance policy?
It is the person you are naming that has the power of attorney that can be the contingent beneficiary. You would be better to create a trust and make the trust the beneficiary
Can an agent named in a power of attorney change the a beneficiary designation made by the person who granted the power of attorney?
Power of Attorney paperwork usually specifies what they can make decisions on. Unless it states they do not have control over insurance policies, then they are able to change the beneficiaries and the percentage they would receive.
Can a person with Power of Attorney be a beneficiary in the will.?
No. Most states if not all states have specific laws that this is one of several things the holder of a power of attorney cannot do by virtue of his authority under the power. Only the person making the will can alter it. And if, the person making the will can no longer sign papers, but states his wish to add a niece to their will in front of family witnesses?
Can the beneficiary of a will change the executor after the death of the person who raised the will and is now dead?
The beneficiary has not control over the will. The court will determine who the executor will be.
Can a beneficiary change a will to leave out a future inheritant after the death of the person who wrote the will?
No.
Can the person who is the executor of an estate and has power of attorney CHANGE a will?
The power of attorney cannot change the will. That is not legally allowed.
Who is the beneficiary in a life insurance contract?
The beneficiary is the person to receive the coverage amount when the person covered by the policy dies. In the first instance, the beneficiary is named by the applicant when application for the insurance policy is made. Unless the beneficiary designation is made irrevocable, the insured is free to change the beneficiary at any time until his/her death. Unless some provision of law or contract renders the designation of beneficiary irrevocable, the beneficiary does not have a right to remain as beneficiary and ordinarily cannot contest a subsequent change.
