Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Can a successor of a trust cash a life insurance policy with out the consent of the other names on the turst

Answer Question

Asked by takeshi at 2:27 AM on Sep. 11, 2013 in Money & Work

Level 1 (2 Credits)
Answers (4)
  • Nah

    Answer by staciandababy at 2:29 AM on Sep. 11, 2013

  • Ask your lawyer.

    Answer by PartyGalAnne at 2:31 AM on Sep. 11, 2013

  • Do you mean the executor?
    Yes under certain conditions. (s)he is charged by law to wade through all the assets and debts at the time of the person's death. It is his job to
    settle all the accounts. He is required to keep detailed accounts of all that is done and how every penny is spent. He is allowed a portion above and beyond his fair share of the assets as a fee for his services as well as any expenses he incurs in settling the estate.
    Depending on the law he maybe able to cash out all the trusts to pay those debts.
    If you are the executor you should already be talking to a lawyer. If you think the executor is doing something shade, you need to contact a lawyer

    Answer by Dardenella at 3:04 AM on Sep. 11, 2013

  • This would be a very good question for a lawyer or a financial adviser. For a bunch of strangers on the Internet, not so much.

    Answer by Ballad at 11:45 AM on Sep. 11, 2013

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.