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Does anyone work with life insurance claims?
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<blockquote data-quote="klmno" data-source="post: 362910" data-attributes="member: 3699"><p>I don't process insurance, but when I was getting life insurance for myself I was told that this depends on how the policy holder listed a beneficiary. If it was listed to go to the estate, it goes to the esstate account and whatever money needs to be paid from the estate will be drawn out first, then the rest will be divided either according to the will or in the event of no will, in accordance with the laws of the jurisdiction where the person lived.</p><p></p><p>If a beneficiary (one or more) was listed, it will go from the insurance company to the beneficiary, unless that person is a minor and then it gets held up. Somtimes a person lists one beneficiary, then leaves written "directions" (really, a request) to that person about how they want the money spent: for instance, it might all be left to the closest kin and a letter somewhere asking that after that heir reimburses his/herself for funeral costs, put $10,000 in a education fund for each minor grandchild and keep the rest for yourself. (That's just an example.)</p><p></p><p>I don't know about Canada at all, but I believe most US states view the next of kin as a spouse, if there is one, and then the person's children. I don't think they would automatically divide to a sibling if there is an adult child of the deceased. Now, if you and your brother chose to share a small percentage with her sibling because maybe they were very close and she could use the money, that would be your option.</p><p></p><p>My grandfather died without a will- per the law in that state, his estate was divided like this: 50% to his widow and 50% to be divided equally amongst his children, who were adults. But since my father (his son) was already deceased, my fathers portion was divided between my father's children by law. My grandfather had a living sister but she was not included in this. If I die without a will, nobody better give my bro anything. LOL! Then, my grandmother divided up her personal stuff before she died but anything she had inherited from my grandfather also got divided equally among the adult children upon her death.</p></blockquote><p></p>
[QUOTE="klmno, post: 362910, member: 3699"] I don't process insurance, but when I was getting life insurance for myself I was told that this depends on how the policy holder listed a beneficiary. If it was listed to go to the estate, it goes to the esstate account and whatever money needs to be paid from the estate will be drawn out first, then the rest will be divided either according to the will or in the event of no will, in accordance with the laws of the jurisdiction where the person lived. If a beneficiary (one or more) was listed, it will go from the insurance company to the beneficiary, unless that person is a minor and then it gets held up. Somtimes a person lists one beneficiary, then leaves written "directions" (really, a request) to that person about how they want the money spent: for instance, it might all be left to the closest kin and a letter somewhere asking that after that heir reimburses his/herself for funeral costs, put $10,000 in a education fund for each minor grandchild and keep the rest for yourself. (That's just an example.) I don't know about Canada at all, but I believe most US states view the next of kin as a spouse, if there is one, and then the person's children. I don't think they would automatically divide to a sibling if there is an adult child of the deceased. Now, if you and your brother chose to share a small percentage with her sibling because maybe they were very close and she could use the money, that would be your option. My grandfather died without a will- per the law in that state, his estate was divided like this: 50% to his widow and 50% to be divided equally amongst his children, who were adults. But since my father (his son) was already deceased, my fathers portion was divided between my father's children by law. My grandfather had a living sister but she was not included in this. If I die without a will, nobody better give my bro anything. LOL! Then, my grandmother divided up her personal stuff before she died but anything she had inherited from my grandfather also got divided equally among the adult children upon her death. [/QUOTE]
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Does anyone work with life insurance claims?
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