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If one of the beneficiaries predeceased the benefactor and there are no contingent beneficiaries - who receives the portion of the money - Say there were 4 children and one died before the mother - do the other three split the money?
Country/State/Province of question: USA/CT/Fairfield County
Good Morning,
Thank you for your question
That portion which would have gone to the deceased beneficiary would be divided among the three remaining siblings, unless the deceased beneficiary had children; in that case, her 25% interest would be divided equally among the children she had.
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ANDREA
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Attorney
25 Yrs. Family Law, Estates, Real estate & Bus. Law, Criminal Defense, Immigration, Employment Law
There were children of the sibling that died before the mother, but according to the Annuity there was no contingency beneficiaries on it - the Investment advisor says it is split with the 3 remaining children of the deceased benefactor and the children of the deceased sibling are not entitled to anything - Is this true - Also the benefactor had changed the beneficiaries when her son died to the three but the advisor never completed it.
The investment advisor is mistaken; but just to be sure, please tell me who "benefactor" is in relation to beneficiaries.
Here is how your post is interpreted:
MOTHER is "M"
A B C D
D predeceases M
but leaves living
Issue (children)
Alive Alive Alive I-1, I-2
When M passes, A, B, and C each take 1/4; I-1 & I-2
Share 1/4
In order for the children of D to be excluded, M would have to have provided:
"...To A, B, C and D, provided they shall survive me..."
If M did not use the language I have underlined, the children of D are included as beneficiaries and divide between themselves their mother's 1/4 share, each taking 1/8.
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