Friday, September 30, 2011

What happens to life insurance and retirement benefits when I die?

If you have a Will, certain property or benefits may be distributed to your spouse or others even though it is not mentioned in the Will.  Typically, life insurance, retirement benefits, joint tenancy property, and property in a “living trust” are distributed directly to the beneficiaries named in the policy, plan, or trust.  If you own certain property specifically as a “joint tenant” with others, that property will go directly to the other joint tenants who are alive after your death, without regard to how you have distributed your estate in a Will.

 

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