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If there are two beneficiaries and one dies previous to the insured do proceeds go to the surviving beneficiary or half to the dead beneficiary's heirs?
Wiki User
∙ 7y ago
There is no single answer to your question because the facts may be different in different cases. First, the insured should change the beneficiary designation if a named beneficiary dies before the insured's death. That will avoid problems later.
A beneficiary designation may include additional instructions when two or more beneficiaries are named. First, the insured can name "contingent" beneficiaries who will take a deceased beneficiaries share- on any life insurance policy. Second, the beneficiaries may be named as beneficiaries "per stirpes" or as "joint with the right of survivorship" where if one dies their share passes to the Survivor.
You need to check the designations on the particular insurance policy, the policies of the particular insurance company and the laws in your jurisdiction.
Wiki User
∙ 7y ago
Wiki User
∙ 7y agoIt goes to the heirs if both beneficiary's were "primary" You might also consider "contingent" beneficiary designation.
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Who can contest a will?
Any natural beneficiary of the deceased has standing to contest the will. Beneficiaries of a previous will may also have standing to contest it. You will need to talk to an attorney in your state to work on the process.
The beneficiary died after the policy holder who is also deceased Who is the beneficary spouse or children from previous marriage?
When the policy holder dies, the money goes to the beneficiary. If the beneficiary then dies, THEIR beneficiary then gets the money.
If you are your ex-spouses beneficiary on a life insurance policy are the ex's children from a previous entitled to a childs' part?
== == It's all a function of who's listed as the beneficiary. If someone doesn't agree and brings a lawsuit about it - The Insurance Company will probably just ask the court to decide - It would be wise to plan ahead and set up trusts, change beneficiaries, whatever so that the insured's desires are met.
When a new will is written does the previous executor who is also a beneficiary have to be notified in writing by the testate?
There is no requirement to do so. The executor does not even have to be notified that they were appointed.
How do you relinquish beneficiary rights to previous beneficiary on life insurance policy?
Some life insurance policies have an "irrevocable" clause, meaning, once you designate a beneficiary, that's the only beneficiary that can be designated. Stated otherwise, the owner of the policy cannot him/herself change the beneficiary without the consent of the beneficiary (hence, the use of the term "irrevocable"). If that consent can be obtained, the insurer will have forms that must be completed with a great degree of formality, in order to effect the change. The insurer will be concerned that all formalities are observed so that when the insured dies, it is not faced with conflicting claims to the proceeds.
What rights do your deceased husbands children from a previous marriage have if you are the beneficiary of the policy he took out during your marriage?
They have no rights in that particular policy. The proceeds will be paid over to you bypassing probate.
Can the beneficiary of a previous will contest the amended one if it does not mention them?
Of course, you can contest the will. From your question, it appears you are doing so, now. You stand scant chance of prevailing in court against a properly executed will, though.
Does the previous executor have to be notified of any changes or issue of a new will if a new will is written does the executor who is also a beneficiary need to be advised in writing?
There is no reason to inform anyone. It isn't any of their business who is named in the will.
Can common law spouse's remove things from the estate if their is no will and surviving children from a previous union?
No, that would not be permissable. There are few places that allow common law spouses, so check that carefully.
What are the distribution of estate funds to a surviving spouse in Virginia?
Virginia Code:64.1-1. Course of descents generally.When any person having title to any real estate of inheritance shall die intestate as to such estate, it shall descend and pass in parcenary to such of his kindred, male and female, in the following course:First. To the surviving spouse of the intestate, unless the intestate is survived by children or their descendants, one or more of whom are not children or their descendants of the surviving spouse, in which case two-thirds of such estate shall pass to all the intestate's children and their descendants and the remaining one-third of such estate shall pass to the intestate's surviving spouse.That means the surviving spouse receives the estate unless the decedent had children that were not also children of the surviving spouse. If there are children from a previous marriage the surviving spouse receives one-third.
What is the Creative Academy and how does Jake Semple end up going there in Surviving the Applewhites?
The Creative Academy is a school for troubled youth in the novel "Surviving the Applewhites." Jake Semple ends up going to the Creative Academy as part of his punishment for his behavior at his previous school. The Applewhite family takes him in and agrees to oversee his progress at the Academy, leading to a transformative experience for Jake.
If you are an heir to the estate are you also an heir to the credit card debt incurred by the previous owner?
No, all non exempt property belonging to the deceased is used to pay outstanding debts. None of the estate will be distributed to beneficiaries until probate procedures are complete and all debts have been paid to the extent of the available funds.
