If you are the executor/administrator of the estate just ask the bank for all information about any and all acounts he may have had including ones that have been closed out. You could also request copies of past monthly statements and 1099s. If you are not an executor, you will not be given any information by any banks. If you are a beneficiary of an estate and want to find out if there were any improper withdrawals or missing deposits, you could demand that the executor give you copies for your assurance. Generally only beneficiaries that receive a percentage of an estate may make that request. If a beneficiary is given an specific amount of money and is paid that amount, then the beneficiary has no right to that information. Dwpending on the state in which the decedent's estate is, there may be additional methods. This answer is not intended to give you every avenue available to you.
This can only be done by the other party setting up a direct debit mandate specifying you as the beneficiary.
The bank will not pay over the account to you unless you have some type of authority from the probate court. You can check with the court to ask how you would go about claiming a small estate.
No. Ownership of a a joint account passes automatically to the surviving joint owner unless it can be proven that the account was set up as joint for purposes of convenience only by the decedent.
Write "For Deposit Only" on the back. Both people have to sign it. If you are one of those people and you want to deposit it to your account you would sign first.
A beneficiary does not have the right to sell the estate. Only the executor can sell property.
This depends on how the house is treated in the will. Generally, if the house is given to a beneficiary specifically or through the residuary clause, or if it goes to an heir by intestate succession, the house becomes the property of the beneficiary as of the date of death even though the beneficiary is not entitled to actual possession yet. In that case, mortgage, property taxes, insurance and utilities are the obligation of the beneficiary or heir and are not true estate expenses. Since the estate account contains estate monies that may be used only for estate expenses and since those are not estate expenses, the estate account may not be used for them. However; if the will states that the house is not to be given to anyone in particular but that it is to be sold by the estate and the proceeds given to the the beneficiary, then the carrying charges of the house are legitimate estate expenses and the estate account may be used. In the world of reality and practicality, the estate account is sometimes used, even though it may technically be wrong. Sometimes, beneficiaries agree to let the estate account pay for carrying charges, subject to the beneficiary reimbursing the estate later on. As far as rent payments go, obviously, the estate account will be used to pay for the rental obligations the decedent has, because this is a legitimate debt of the decedent. But, the estate account cannot pay for someone else to live there. The executor has an obligation to cancel the lease as soon as practicable so that no unnecessary rent payments accrue.
The only reason a beneficiary would add money to an estate would be if they owed money to the estate at the death of the deceased.
Only if the beneficiary to the plan is the estate. If the beneficiary is a person and not the estate, the asset passes to the person. It may still be subject to the decedent's debts, however, unless it is exempt such as in Texas. Of course, the bank would have to know about it to pursue collection.
only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.
If the life insurance policy had listed as the beneficiary the spouse only then it is not considered part of the estate and is not subject to claims. If the beneficiary is the estate then it is subject to claims. The only problem with the spouse being the only beneficiary is if she was a party to the claims personally then perhaps she and the proceeds from the life insurance could be subject to these claims.
If the only beneficiary of a policy dies, the benefit is paid to your estate, therefore can be taxed as an estate. You can call the company or your agent to add another beneficiary(ies).
No. A beneficiary has no authority to name a beneficiary of another's property. Only the principal can name the beneficiary. Generally, if the primary beneficiary declines to accept the inheritance then the gift will lapse and the property will be included in the estate.
No, the inherited funds (beneficiary IRA) have to remain in inherited (beneficiary) form. So the account/funds can only be distributed out of the beneficary IRA as a distribution or transfer to another alike roth beneficiary account at another firm. However, the deceased account can be transferred into the surviving spouse Roth IRA (or transfer to a beneficiary IRA account). A non-spouse doesn't have this option- they can only transfer to their beneficiary IRA account that they opened.
In general, no. You only need a beneficiary for life insurance.
Yes, that is often the case when a spouse dies. It saves the estate money.
Yes. A secondary beneficiary only becomes beneficiary if the primary beneficiary dies before the insured. Say the insured and primary beneficiary are involved in a fatal auto accident but the insured dies an hour before the primary beneficiary. The insurance proceeds would not go to the secondary beneficiary but to the estate of the primary beneficiary. If the primary beneficiary dies an hour before the insured then the secondary beneficiary receives the proceeds. If an insured wants both to receive monies they can name more than one person as primary beneficiary and in what percentage for each person. They could also leave it to their estate and handle distribution by a will.