Posted: Tue Aug 05, 2008 3:34 am Post subject: Two weeks ago my brother
Two weeks ago my brother in law and sister were killed in a motorcycle accident. With my sister dead, my 17 yr old nephew was left as beneficiary. He turned 18 yrs old two days ago. There is no will that we can find and there is a niece that is over 18. Does the nephew get all that money without having to take care of the estate debts? Is the sister entitled to any of the insurance? Since she sprouted her wings after graduating and moved out the nephew seems to think that EVERYTHING is his and is banning her from the house, the property, the vehicles, and won't let her even see the mail. I have one heck of a mess.
If the niece is in direct relation with your nephew, then she must be entitled to the estate as well. She might have sprouted wings (according to you), but it doesn't justify depriving her of her rightful share.
Who is the named beneficiary of the policy? If both of the brother and the sister are the named beneficiaries of the policies, they should both receive the policy benefits.
Now, if you like to award the entire amount to one of the surviving siblings, then you're required to obtain a court order supporting it. Otherwise, the other sibling will have all the rights to contest the issue at the court of law and can most likely get a judgement favoring her side.
Under the situation where there is no named beneficiary available, the benefits of the policy go to the immediate surviving descendent. Here it should be the children.
BTW, I've a question, who is the appointed executor of your sister's estate? The executor should have the authority to disperse the benefits accordingly amongst the surviving relatives of the decedent.
Since she sprouted her wings after graduating and moved out the nephew seems to think that EVERYTHING is his and is banning her from the house, the property, the vehicles, and won't let her even see the mail.
See, I don't think that its the nephew's right to ban her from anything over here..
You need to locate the policies & identify the beneficiaries..may I ask which state you're from!
come soon..fatman
Oh Paula, I'm so very very sorry.....If I'm understanding this and they are brother and sister? then they share equally...tell the girl to get to the court house, (get an attorney) and file in probate for her share...Is the boy just willy/nilly spending? If so how did he get his hands on the money? _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
Without commenting on the veracity of original poster's post I'm just going to comment on the facts of DEATH with regard to her post and other comments.
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With my sister dead, my 17 yr old nephew was left as beneficiary.
Is that to say your sister was the Primary Beneficiary and your nephew was the ONLY named Contingent Beneficiary?
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There is no will that we can find and there is a niece that is over 18.
A last will and testament DOES NOT control the dispositon of life insurance death benefits UNLESS "THE ESTATE" was named as the beneficiary or all beneficairy designations were left blank on the application or all beneficairies PRE-deceased the insured..
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Does the nephew get all that money without having to take care of the estate debts?
YES.
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Is the sister entitled to any of the insurance?
No.
If mom or dad wanted her to have any of their life insurance death benefit they would have named her as a beneficairy.
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Since she sprouted her wings after graduating and moved out the nephew seems to think that EVERYTHING is his and is banning her from the house, the property, the vehicles, and won't let her even see the mail.
Are these half siblings? Was your nephew your brother-in-law's son by THIS couple and was niece your sister's daughter by a previous marriage?
jeorge wrote:
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If the niece is in direct relation with your nephew, then she must be entitled to the estate as well.
Yes, she would be entitled to her share of the PROBATE ESTATE not the life insurance benefits.
Juanita wrote:
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Now, if you like to award the entire amount to one of the surviving siblings, then you're required to obtain a court order supporting it. Otherwise, the other sibling will have all the rights to contest the issue at the court of law and can most likely get a judgement favoring her side.
The insurance company is going to pay the death benefit to the person or persons who the policyOWNER designated in his/her policy to recieve the benefits of their contract.
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Otherwise, the other sibling will have all the rights to contest the issue at the court of law and can most likely get a judgement favoring her side.
There is nothing to contest and the absence of niece being named as a beneficiary tells you something about the niece and the family dynamics.
Jeremy Holter wrote:
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BTW, I've a question, who is the appointed executor of your sister's estate? The executor should have the authority to disperse the benefits accordingly amongst the surviving relatives of the decedent.
They died INTESTATE, without a will.
State law has jurisdiction under the Probate Court System. The Court will appoint an executor/personal representative. THAT has nothing to do with the life insurance policy as it IS NOT an asset subject to probate if there were named beneficiaries.
Lori wrote:
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Is the boy just willy/nilly spending? If so how did he get his hands on the money?
Now I'll comment on the veracity of original poster's post.
It usually takes about 4 to 6 weeks to even get a Death Certificate after someone had died. A 17 year old doesn't even know how to spell life insurance much less submit the claim form with the death certificate.
I'm just saying.... _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
usually takes about 4 to 6 weeks to even get a Death Certificate after someone had died. A 17 year old doesn't even know how to spell life insurance much less submit the claim form with the death certificate.
I'm just saying....
That was my point exactly has he got his hands on it and if so how? _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
If the nephew is the only named beneficiary in the life policy, he will get the proceeds. Life insurance transfers to the named beneficiar(ies) outside of the estate, and would have nothing to do with the estate unless, of course, the estate actually received the death benefit.
In the absence of a will, referred to as "dying intestate," the intestacy laws of the state in which a person dies will determine the disposition of the estate. The court will appoint an "administrator" in the case of intestate death, and this is the person who will see to the disposition of the estate according the the laws of that state.
A 17-year old cannot receive life insurance proceeds in most states, you normally have to be 18 years of age. Normally, if the beneficiary will be 18 within a short time of the death, the insurer will hold the proceeds until the age of majority is reached and then pay that beneficiary. If the child will not reach age 18 for some time, the proceeds are typically paid to a trustee or guardian FBO (for the benefit of) the minor.
I am so sorry about the tragic occurrence, that's really horrible. We all feel for you, and we hope that we can help in some way...
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I read some of these posts and the incongruent circumstances are so obvious I wonder who IS this person who writes such absurdities?
To wit:
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Two weeks ago my brother in law and sister were killed in a motorcycle accident. With my sister dead, my 17 yr old nephew was left as beneficiary.
14 days ago?
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He turned 18 yrs old two days ago.
12 days after the tragic motorcycle accident.
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Since she sprouted her wings after graduating and moved out the nephew seems to think that EVERYTHING is his and is banning her from the house, the property, the vehicles, and won't let her even see the mail.
Wow, that's giant basketballsy for an 18 year old. Good for him! He must really despise his BIG sister or half sister much more than he's devastated his parents are dead.
In fact, Mom and Dad BOTH must have despised the daughter because they didn't even have enough love in their heart for the daughter to designate her as a beneficiary on their life insurance.
A life insurance contract beneficiary designation is the most sincere love letter one could ever write to their wife or children.
She must really be a piece of work! _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
Wow, that's giant basketballsy for an 18 year old. Good for him!
Ballsy yes, good for him...NO, sounds like he's being an arrogant brat to me!
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He must really despise his BIG sister or half sister much more than he's devastated his parents are dead.
yeah, and how sad is that? Makes, me sick...
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In fact, Mom and Dad BOTH must have despised the daughter because they didn't even have enough love in their heart for the daughter to designate her as a beneficiary on their life insurance.
I think despise is a strong word...could be that this is dad's daughter by a previous marriage and boy is a product of this marriage, daughter may have been raised by ex wife, but don't see it as parents dispising anyone...could also be that one parent did this without the knowledge or consent of the other! (thru their employer policy)...
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She must really be a piece of work!
Easy there lucky...We're all assuming things because there isn't enough information in the OP, but doubt ANY parent could dispise their own child...regardless.... _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
But the main points that should be understood by the life insurance buying general public who may read this thread are:
1) Life insurance death benefits are paid directly to the named beneficiaries designated in the policy.
2) Life insurance proceeds are NOT part of the deceased person's probate estate and are NOT distibuted under a last will and testament and are EXEMPT from creditor claims against the deceased person's probate estate.
Below is one of my all time favorite Florida laws:
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222.13 Life insurance policies; disposition of proceeds.--
(1) Whenever any person residing in the state shall die leaving insurance on his or her life, the said insurance shall inure exclusively to the benefit of the person for whose use and benefit such insurance is designated in the policy, and the proceeds thereof shall be exempt from the claims of creditors of the insured unless the insurance policy or a valid assignment thereof provides otherwise.
_________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
But it is someone's story... Gary why would you think that? Unless you posted it? Seriously how do you know that this OP is not ligit? In fact I'm quite sure she is because she sent me a note...
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But the main points that should be understood by the life insurance buying general public who may read this thread are:
I agree total with that....just thought you were very harsh regarding the 'human' part of it...just my opinion... _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
I have sold literally hundreds if not thousands of life insurance policies over the past 23 years.
It would be EXTREMELY unusual for a married couple to name their juvenile son as the ONLY contingent beneficiary and totally skip the older daughter.
I'm sorry, but I'm not buying that one without someone showing me the contract. It would be absurd or there would have to be some very bad circumstances regarding the parent(s) with the daughter.
And IF the son was named as the ONLY contingent beneficiary that's the way the policyOWNER wanted the life insurance proceeds to be distributed.
I'm not being harsh. I'm stating facts.
The life insurance proceeds are none of the "Aunt's" business. It doesn't matter whether the Aunt "thinks" the disposition of those proceeds is right or wrong...it's the way the policyOWNER wanted it. Nor does it matter the 18 year old is ill-equipped to handle a very large sum of money and will more than likely squander that money.
That's the way the policyOWNER wanted it.
The "Estate's" debts are NOT the 18 year olds debts to pay. It doesn't matter whether the Aunt or the daughter "thinks" he should pay them with his life insurance benefit. They ARE NOT his debts.
What right does the Aunt, the Daughter or even the Court or anyone else for that matter have to substitute their vision of what they think is right or wrong for the policyOWNER'S designation?
If Pops named Mom as the Primary Beneficiary and only named the son as the only contingent beneficiary THAT'S THE ORDER IN WHICH DAD WANTED HIS LIFE INSURANCE PROCEEDS TO BE DISTRIBUTED.
The daughter may feel hurt and the Aunt may feel this is not right but that's the way Dad wanted it. _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
Well if the son is the sole beneficiary I guess technically everything would be his. But, as a brother, you would think that he would be willing to split everything down the middle. _________________ Visit The Insurance Files for information on auto, health, life, homeowners and more!
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that's giant basket
Makes, me sick...
