When a spouse dies, each of their assets transfers to theirbeneficiary, who is typically their surviving spouse. Unlike Social Security benefits, which have an automatic survivor benefit, retirement plans require account holders to choose their beneficiaries. These beneficiary designations take precedence...
If theheiris a surviving spouse, a minor child, or a disabled person, the RMDs continue to be based on the deceased person’s age rather than the beneficiary's—that is, unless the beneficiary submits a new schedule based on their age. If the heir is not a spouse, they must withdraw...
Except in the nine community property states, surviving spouses don't inherit responsibility for their partner's debts. It would typically have no bearing on a decedent's auto lease if he was single or married, assuming the lease is in his sole name. If he dies before the lease expires, ...
If a spouse dies without a will and has separate property, the surviving spouse will need to equally divide those assets with their children. If there are no children, the spouse gets half of the separate property and the rest may go to the deceased spouse’s family. Newsletter Sign...
Social Security is the main source of income for many in retirement, and can provide a level of financial protection for you and your family. But what happens if you are receiving a Social Security...
Be sure to ask yourself a fundamental question – what happens if my spouse dies? Having a solid financial plan in place for the unexpected is always wise. 9. Choose Realistic Financing For a Retirement Home. While you may be able to put a significant down payment on your retirement home,...
What happens if the beneficiary is an organization that no longer exists? If you have named an organization as the beneficiary of yourlife insurance policy, and then by the time you die, the organization no longer exists, then a couple of different scenarios could happen. The first possibility...
What Happens if a Person Who Has No Spouse Dies Before the Term of Their Car Lease Expires? Personal Finance How to Return a Leased Car Early Personal Finance How to Break an Auto Lease Because of the Death of a Lessee Returning the Car ...
If you find yourself referring to this article now or you decide to keep it in a drawer or on your computer for some unforeseen time in the future, please know that I am here to help you and assist you as you seek answers to your questions and a measure of financial equilibrium. ...
It may be difficult to approach the subject of what happens if you or your spouse dies, but it should be part of your money talk.Life insurancetakes financial care of your spouse if you pass away, and you should choose a policy based on how you want them to be provided for. You may...