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 Posted: Mon Aug 03, 2009 12:30 pm Post subject: |
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| Quote: | | Her son is thinking about contesting it. Can he do this |
Yes, he can contest it but it's very very very doubtful he will be successful..
so sorry about the loss of your sister.
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Lori
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| Posted: Wed Oct 14, 2009 11:13 pm Post subject: Living Trust |
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My father always favored my sister and assigned his beneficary to her as well as my mother's life Insurance. Everything is in the Living Trust that splits the estate 70% and the rest of the 30% goes to me. I was told the life Insurance goes to the Benerficary 100%. What kind of crap is this? This is greedy!
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vet69
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| Posted: Thu Oct 15, 2009 10:40 am Post subject: |
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If the trust lists how the life insurance is to be paid (in your case 70/30) then it will be..if it's not listed in the trust, then no the good sister doesn't have to pay you your 30%---for whatever reason your parents aren't comfortable making sure you get half of their assets, you'd have a better understanding why...But given the situation, sounds you ought to be happy you got anything
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Lori
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| Posted: Thu Oct 15, 2009 12:15 pm Post subject: |
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| Quote: | | I was told the life Insurance goes to the Benerficary 100%. |
Yes if it is so mentioned and if there is only one beneficiary or a primary and a secondary beneficiary. Since this policy is through a trust, if the trust lists a 70/30 disbursal, it will be that way unless any changes be made (which usually cannot be made I believe).
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sil
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| Posted: Wed Oct 21, 2009 9:35 am Post subject: |
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| Quote: | | My father always favored my sister and assigned his beneficary to her as well as my mother's life Insurance. Everything is in the Living Trust that splits the estate 70% and the rest of the 30% goes to me. I was told the life Insurance goes to the Benerficary 100%. What kind of crap is this? This is greedy! |
Don't you mean, "I am greedy." Maybe your dad thought that you cared about his money while your sister cared about him.
If the insurance is owned by the Living Trust, but has your sister as sole beneficiary of the insurance, she'll get 100% of the life insurance. Everything else will get split 70/30.
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| Posted: Mon Nov 16, 2009 9:28 pm Post subject: |
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Dear Andrea, yes he can contest it, but if he does, he will lose.
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anonymous1
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heidrek
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| Posted: Thu Nov 19, 2009 12:06 pm Post subject: |
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| Quote: | | Do most life insurance policies pay out on suicide i thought this was a fairly common exclusion? |
Most policys here, Hedrik, say that if suicide is commited within first year or two it's excluded or if the policy was purchased with the intent of commiting suicide it's excluded which of course would be hard to prove unless it's very early in the policy period.
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Lori
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heidrek
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| Posted: Sat Nov 21, 2009 6:40 am Post subject: |
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| Quote: | | My father always favored my sister and assigned his beneficary to her as well as my mother's life Insurance. Everything is in the Living Trust that splits the estate 70% and the rest of the 30% goes to me. I was told the life Insurance goes to the Benerficary 100%. What kind of crap is this? This is greedy! |
Life insurance cannot be held in a living trust. A living trust (inter-vivos trust) is an estate planning tool and is a revocable instrument. The purpose of a living trust it primarily to escape probate costs.
As well, the beneficiary designations within a life insurance policy are pretty much set in stone and cannot be overturned by a will, trust instrument or most any other legal means including litigation.
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InsTeacher
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