0
Add your answer:
Earn +20 pts
Are retirement benefits the same as life ins on an estate?
Retirement Benefits after Death?NO. Retirement benefits cease once a person dies and therefore would not be part of an estate. When a person Dies, they are no longer considered "Retired", They are after death considered "Expired".Life insurance also is not part of an estate unless there is no named beneficiary. The proceeds of a life insurance policy belong to the beneficiary named on the policy, Not to the deceased nor to the deceased estate.
What is the importance of Gas?
natural gas is important because if we did not have it their will not be no stoves, ovenand more.natural gas was discoverd on the place of SUI in balochistan in 1952 thats why its named as a SUI GAS.
If a person is named the beneficiary of a policy does the amount become part of the estate even though the beneficiary has the entire tax burden?
The proceeds are includable in insured's gross estate if the insured legally possessed and could legally exercise any incidents of ownership at the time of his death. It does not matter that decedent did not have possession of the policy and therefore was unable to exercise his ownership rights at the time of his death (Comm. v. Est. of Noel, 380 U.S. 678 (1965)), The beneficiary however does NOT pay Income Tax on the proceeds IRC Sec. 101(a)(1).
What does it mean for money to go to the estate?
If money goes to the estate that means the right to receive the money belonged to the decedent. Examples would include such sums as a debt owed to the decedent, insurance money where no beneficiary was named and the decedent owned the policy, refunds from paid in advance medical insurance, or an award from a court case that was settled in favor of the decedent.
What state in the us would you find the town named Hershey?
Pennslyvania is the home of Hershey chocolate company and is therefore named Hershey, Pennslyvania.
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.
Is wife entitled to deceased husband insurance policy if she is not named on it?
If the wife is not named as a beneficiary then she would have no claim on the policy proceeds.
If a Beneficiary is deceased who is entitled to the Policy if no secondary beneficiary is named?
The policy will be paid to the decedent's estate if there are no named beneficiaries or if the ones named have predeceased. the legal spouse or next of kin
Who created the policy name dollar diplomacy?
Benjamin Harrison created the policy named dollar diplomacy in 1894.
Person listed as beneficiary?
A person listed as a beneficiary is the receiver of any proceeds from an insurance policy. They are normally named in the policy document or can be named in a will.
Is nanny covered in homeowner policy?
No. your nanny is not a named insured on your home insurance policy.
How can you find out if someone left insurance policy and named me as the beneficiary after they passed away?
if someone died and left an insurance policy and named me beneficiary how can i find out
Can a surviving child receive money from deceased parent's life insurance policy?
If they are named the benificiary of the life insurance policy. If they are not, it goes to the named individuals. If no one has been named, the policy will normally pay the estate and the procedes distributed according to the will or intestacy laws.
Can a named insured be an excluded driver on an automobile liability policy in New Mexico?
A named insured person can be an excluded driver on an automobile liability policy in New Mexico, if the policy holder wishes to remove a driver from the policy. The policy holder will have to notify the insurance company to make the changes.
Can a spouse authorize a change to or agree to have a new car insurance policy issued only if they are listed as a driver on the present policy?
Yes because they are a member of the household and the spouse and the named insured have the same rights.
What is the difference between a Named perils insurance policy and an All risk insurance policy?
Standard Homeowners Policy Verses All Risk PoliciesMost Homeowners Insurance Policies are "Named Risk". They list all the covered perils for which the Insurance company will offer coverage. So If It is not on the list, It basically is not covered.An All Risk Policy is just the opposite. It lists all the perils that are "not" covered, On these policies if it is not on the list, then it "is" covered.AnswerA named perils policy only covers perils listed in the policy. For example, a named perils policy will usually cover an accidental fire loss at your home because fire is listed as a covered peril. However, lets say you have a water loss at your home when a water line breaks. If water loss is not listed as a covered peril under your policy, then you will have to pay for the damage yourself, which can be expensive. For a named peril policy you need to look at the the policy to see what perils are covered.On the other hand, an all risk policy will cover any peril unless its specifically excluded under your policy. An all risk policy provides you more coverage than a named peril policy. For an all risk policy you will look to the Exclusions section of the policy to determine what is not covered. In the water loss example above, unless water losses are specifically excluded under the policy, the loss is covered.An all risk policy will cost you more in premiums, but is worth the price.
Does homeowners insurance have to have the name of the owners on the policy?
The Named InsuredYes. It is a legal issue. A homeowner's policy insures the named insured for damage to their home. This assumes the named insured maintains an insurable interest in the house, meaning that they have not sold it to someone else. The policy cannot be transfered to a new owner.
