Person has a will drawn up and names 3 beneficiaries, all family members, to receive major share. Some years later one named beneficiary dies. What happens to the share originally allocated to the deceased beneficiary? Does it pass to their estate or is it shared between the other two beneficiaries?
2007-03-09 02:26:27 · 10 answers · asked by Cyclops 1 in Family & Relationships ➔ Other - Family & Relationships
it is shared between the remaining
2007-03-09 02:28:37 · answer #1 · answered by Anonymous · 1⤊ 1⤋
In most States, unless it is stipulated otherwise, the share passes to the deceased beneficiary's estate. In order for the proceeds from the will to be split between the other two the will would have to state that in the event one of the three dies before the will is executed the other two will share the whole sum equally.
2007-03-09 02:34:21 · answer #2 · answered by don n 6 · 1⤊ 0⤋
It will pass to their estate if the will is not updated as to designate what will happen to the share. It does not automatically go to the other two beneficiaries. The will should be updated since a change has happened to the provisions of the distributions and inheritance that were allocated. It will be up to the probate court and judge what to do with the remainding share.
2007-03-09 02:34:47 · answer #3 · answered by Sparkles 7 · 1⤊ 0⤋
i'm approved in Indiana so there is differences contained in the regulation. even as a minor is called a beneficiary and the owner dies even as the beneficiary is lower than 18 the money is held in believe for the youngster. i could advise talking with an legal professional and searching right into a believe everyday for the best thing about your baby. The beneficiary of your coverage could properly be the believe. you determine the furnish of the believe. you ought to ask your legal professional yet you are able to manage to protect you funeral prices as a provision of the believe. again, an legal professional could help you with this count number number. wish this enables.
2016-12-05 11:15:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Generally, the remainder is divided between the surviving beneficiaries. However, you can amend the will to give specific instructions of what to do in the event that a beneficiary dies.
2007-03-09 02:29:41 · answer #5 · answered by fly guy 4 · 1⤊ 1⤋
It will be left to the estate of the beneficiary who has died (i.e. their next of kin).
It won't be shared between the other two beneficiaries unless the now dead one has no will of their own or other family.
2007-03-09 02:32:55 · answer #6 · answered by mark 7 · 1⤊ 0⤋
IT is normally split equally between the remaining beneficiaries
2007-03-09 02:29:36 · answer #7 · answered by Sir Sidney Snot 6 · 1⤊ 2⤋
no, it depends what was in the will of the dead beneficiary
2007-03-09 02:29:50 · answer #8 · answered by Anonymous · 2⤊ 1⤋
Talk to your attorney, and redo the will.
2007-03-09 02:29:06 · answer #9 · answered by WC 7 · 1⤊ 1⤋
go to findlaw.com
2007-03-09 02:33:56 · answer #10 · answered by Smurfette 5 · 0⤊ 0⤋