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Consider this example: if Mr Smith (born 1943) had one child, Alfred b. 1965, and Alfred had 2 children Beatrice b. 1989 and Clive b. 1994 - Beatrice & Clive being Mr. Smith's grandchildren - assuming Alfred, Beatrice & Clive were alive at Mr. Smith's death and Alfred was named (for ease of explanation) the sole beneficiary.
If on Mr. Smith's death in 2000, his will had a clause 'surviving issue of [my] beneficiary'... this would mean Beatrice and Clive as they were the issue of Alfred who were alive on the date of Mr. Smith's death.
What else can I help you with?
Does to the issue of deceased beneficiary have the same meaning as surviving issue of beneficiary?
No, not exactly.The issue of a deceased beneficiary includes any issue that has predeceased that beneficiary.Surviving issue means only the issue living at the time of death of the beneficiary.
Is the spouse the surviving issue of the beneficiary in a will?
No, the spouse is not considered a surviving issue of the beneficiary in a will. "Issue" typically refers to direct descendants, such as children, grandchildren, or great-grandchildren, while a spouse is a separate legal relationship. In estate planning, the term "beneficiary" usually refers to someone designated to receive assets, which can include a spouse, but they do not fall under the definition of "issue."
What does it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
Is surviving spouse the legal beneficiary of a life insurance policy if a different beneficiary is named?
No, the spouse is not. The beneficiary is named. There are laws that require the spouse to sign an acknowledgement that there is life insurance that she is not the beneficiary of.
In Arizona if a husband dies with no will and the house he owns is only in his name who has claim to the house the surviving wife or the minor child?
If the wife is the mother of the surviving child then she inherits the house according to the section of the Arizona code excerpted below: 14-2102. Intestate share of surviving spouse The following part of the intestate estate, as to both separate property and the one-half of community property that belongs to the decedent, passes to the surviving spouse: 1. If there is no surviving issue or if there are surviving issue all of whom are issue of the surviving spouse also, the entire intestate estate. 2. If there are surviving issue one or more of whom are not issue of the surviving spouse, one-half of the intestate separate property and no interest in the one-half of the community property that belonged to the decedent.
In the state of Georgia if a spouse receives life insurance benefits is the surviving spouse responsible for the deceased spouse debt if surviving spouse's name is not on any of the debt owed?
In Georgia, as in most states, life insurance proceeds to a named beneficiary become the property of the beneficiary and are therefore not accessible to the creditors of the decedent. Of course, this does not apply to joint debt between the spouses or any debt solely in the name of the surviving spouse. In short, if the surviving spouse's name is not on the debt of the decedent, the surviving spouse has no legal obligation to pay such debt.
Can a parent or guardian be the wrongful death beneficiary of his or her adult child in Alabama or Nebraska if that child has no wife or children?
In Alabama, the parent would not be considered a wrongful death beneficiary of the adult child if there are no surviving spouse or children. In Nebraska, however, the parent could potentially be considered a wrongful death beneficiary if there are no surviving spouse or children. Each state has its own specific laws governing wrongful death claims.
If someone dies in Alabama without a will does everything go to the surviving spouse?
Section 43-8-41 ===Share of the spouse:=== The intestate share of the surviving spouse is as follows: (1) If there is no surviving issue (children) or parent of the decedent, the entire intestate estate; (2) If there is no surviving issue but the decedent is survived by a parent or parents, the first $100,000.00 in value, plus one-half of the balance of the intestate estate; (3) If there are surviving issue all of whom are issue of the surviving spouse also, the first $50,000.00 in value, plus one-half of the balance of the intestate estate; (4) If there are surviving issue one or more of whom are not issue of the surviving spouse, one-half of the intestate estate; (5) If the estate is located in two or more states, the share shall not exceed in the aggregate the allowable amounts under this chapter. Section 43-8-42 ===Share of heirs other than surviving spouse:=== The part of the intestate estate not passing to the surviving spouse under section 43-8-41, or the entire intestate estate if there is no surviving spouse, passes as follows: (1) To the issue (children) of the decedent; if they are all of the same degree of kinship to the decedent they take equally, but if of unequal degree, then those of more remote degree take by representation; (2) If there is no surviving issue, to his parent or parents equally; (3) If there is no surviving issue or parent, to the issue of the parents or either of them by representation; (4) If there is no surviving issue, parent or issue of a parent, but the decedent is survived by one or more grandparents or issue of grandparents, half of the estate passes to the paternal grandparents if both survive, or to the surviving paternal grandparent, or to the issue of the paternal grandparents if both are deceased, the issue taking equally if they are all of the same degree of kinship to the decedent, but if of unequal degree those of more remote degree take by representation; and the other half passes to the maternal relatives in the same manner; but if there be no surviving grandparent or issue of grandparent on either the paternal or the maternal side, the entire estate passes to the relatives on the other side in the same manner as the other half.
What does annuitized mean?
It is the beneficiary of an annuity.
Is a wife considered a deceased man's issue?
No. Lawful "issue" are descendants including those more remote than children. A wife is a surviving spouse under the laws of intestacy. Both the surviving spouse and issue are legal next-of-kin.
Who pays back a reverse mortgage loan?
At "payback time" (the death of the last surviving beneficiary of the reverse mortgage) the house belongs to the bank.
What happens to the proceeds of a life insurance policy if the beneficiary is unclear?
When no beneficiary has been designated the proceeds of a life Insurance policy are assigned to the probate estate of the deceased insured. It would then be apportioned by the probate court to any surviving heirs.
