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Recent Life Insurance questions

My 85 year old mother just received $60000.00 from a life

my 85 year old mother just received $60000.00 from a life insurance policy,does she need to pay taxes on this ?

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Chris T., JD

Lawyer

Doctoral Degree

7,440 satisfied customers
My father left a will making my stepmother executor. She

My father left a will making my stepmother executor. She still hasn't closed out his estate. It has been 11 years. She says that the deeds of distribution aren't complete, but she doesn't seem to want to move on it.JA: What state are you in? It matters because laws vary by location.Customer: This is in south Carolina. I live in Virginia By the way she is 82 years old now.JA: Has anything been filed or reported?Customer: His will is the only thing I know that has been filed. I spokewith the probate judge and she told me the deeds of distribution is the only thing she needs.JA: Anything else you want the lawyer to know before I connect you?Customer: Its a whole lot more but this is all I can give you right now.

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Ely

Counselor at Law

Juris Doctor

64,422 satisfied customers
Last will and testament question. My boyfriend and I have

Last will and testament question. My boyfriend and I have been seeing each other for 2 years. He and his current wife have been separated for 3 years and came up with an agreement to remain married for 5years after separation only for insurance purposes and to give the current wife a chance to get on her feet. This agreement is signed, including a division of assets as of the date of separation. He wants to create a Will that would leave her what she is entitled to but then to leave the rest for me. First question can he divide a pension where she is entitled to 10 years of, then the remainder for me? Assuming the pension allows for that( I know they are all different) but assume, if so how would that need to be worded? Second question along the same line his agreement with her states that when they sell the home they shared she is entitled to half of the profit, how do we phrase the other half comes to me should anything happen before the divorce is finalized? Like would you state that person A is entitle via agreement signed XXXX2012 to one half of profit from selling house at***** and the remaining 1/2(his part) shall go to person B.. or would just say the remainder shall go to person B?

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Irwin Law

Juris Doctor JD

8,826 satisfied customers
I am an insurance agent and I came up with an idea on how to

I am an insurance agent and I came up with an idea on how to solicit life insurance to a niche market. I did talk to a colleague about my idea and we have partnered together to maximize our opportunity. What can I do to ensure that he does not take my idea and steal the opportunity away from me? I don't think he will but I want to know how to protect myself and my idea.Thank you,Jon Lyons (###) ###-####

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Lucy, Esq.

Juris Doctor

30,322 satisfied customers
My Grandfather left my Mother a great deal of money. When

my Grandfather left my Mother a great deal of money. When she died, my stepfather disappeared and my brother and I received nothing but a small amount from her life insurance policy. Her name is***** and she would have been 68 April 20th.JA: Estate laws vary by state. What state are you in?Customer: Nebraska. She passed away living in New Orleans.JA: What documents or supporting evidence do you have?Customer: My birth certificate, for oneJA: Anything else you want the lawyer to know before I connect you?Customer: My stepfather's name is***** is John Turpen.

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112 satisfied customers
I live in Tennessee. I've been married for 18 years and have

I live in Tennessee. I've been married for 18 years and have a 16 year old son. My husband was previously married and has 2 adult children. To the best of my knowledge, my husband and I are beneficiaries on all life insurance, 401ks, and have both names on everything we own. With no will, would the adult children be entitled to any of the estate if my husband died? We accumulated everything we have during our marriage.

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LegalKnowledge

Juris Doctor

30,430 satisfied customers
I am the beneficiary of my mom's 401k, credit union, life

I am the beneficiary of my mom's 401k, credit union, life insurance policy. My brother and I were named Co-executors. I am opening a bank account in order to pay her debts and disburse the money evenly to my sisters and brother, upon my Mom's wishes. My brother wants to be on the account in order that when the money is disbursed, we both sign the checks. However, he said that I can pay the debts without his signature. What is your opinion on this. I know that my brother and sisters don't trust anyone.

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Irwin Law

Juris Doctor JD

8,826 satisfied customers
09 September 2016 05:36 You said that we do not file in

09 September 2016 05:36You said that we do not file in probate unless there are actual assets in her estate that need to be distributed. I am the beneficiary for my mom's 401K and her credit union, life insurance policy, and home (that we are selling), but per my Mom's wishes, everything will be disbursed evenly between myself an my 3 siblings. Does that qualify as assets per your statement above.

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RobertJDFL

Attorney

Juris Doctorate

12,388 satisfied customers
You have been quite helpful. New Q: Can a corporation claim

Good morning sir. You have been quite helpful. New Q: Can a corporation claim IIED? Do you have any California precedent? Inquiry from Defendant's point of view.

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Ray

Lawyer

Doctoral Degree

35,840 satisfied customers
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