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Remove Currency into the Succession Agreement

Remove Currency into the Succession Agreement

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Can a beneficiary on a bank account be contested?

It is possible to contest a beneficiary on a bank account, although the process is not clear or simple. If youre considering contesting a beneficiary on a bank account, its worth speaking with an experienced lawyer to discuss options in your situation.

What disqualifies a beneficiary?

Any person blood-related or married to a drafter of the will is deemed a disqualified beneficiary. This includes a domestic partner, cohabitant, or employee of the person who drafted the will or trust in question.

Can the executor and beneficiary be the same person?

Can the same person be the executor and beneficiary? Yes, the executor and beneficiary can be named as the same person in the Will. Its perfectly normal and legal.

Is there a way around probate?

In many cases, the best way to avoid probate is to establish a transfer-on-death, or TOD, on those bank accounts, brokerage accounts or real estate. That way, assets transfer to the person listed as the TOD beneficiary.

What can override a beneficiary?

The Will will also name beneficiaries who are to receive assets. An executor can override the wishes of these beneficiaries due to their legal duty.

What powers does a beneficiary have?

The most important rights of estate beneficiaries include: The right to receive the assets that were left to them in a timely manner. The right to receive information about estate administration (e.g., estate accountings) The right to request to suspend or remove an executor or administrator.

How do I rescind an inheritance?

Under Internal Revenue Service (IRS) rules, to refuse an inheritance, you must execute a written disclaimer that clearly expresses your irrevocable and unqualified intent to refuse the bequest.

Can a beneficiary of life insurance be contested?

Any person with a valid legal claim can contest a life insurance policys beneficiary after the death of the insured. Often, someone who believes they were the policys rightful beneficiary is the one to initiate such a dispute.

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