As Sole Beneficiary Must I Divide My Parent’s Life Insurance Policy With My Siblings if it is Not Mentioned in Their Will?

Life insurance proceeds pass outside of probate; generally they are not considered assets of the decedent’s estate.

As such, and depending on all of the language contained in the Last Will & Testament, the insurance proceeds can be retained by the person named as the beneficiary of the policy without the legal requirement of being divided among a Will’s beneficiaries.

But there is one concern to review.

Read more

If I Get Divorced, Can I Tell the Landlord I Am Leaving and Make My Ex-Spouse Responsible for the Rent?

Until such time as the landlord agrees to release a tenant from liability under the terms of a lease, the tenants listed in the lease are obligated together to abide by those terms (i.e. pay the rent).

Unilateral pronouncements by a tenant delivered to a landlord will usually not result in a termination of liability for that tenant.

Read more

Can I Will the Home I Own Individually to the Children from My First Marriage if My Current Husband Agrees?

For such an situation, you can use Standard Legal’s Last Will and Testament document with the “Specific Gifting Provisions” to specify exactly who receives what assets when you die.

However, as discussed in the instructions provided within the Will legal forms software, be aware that in many states a spouse can choose to “elect against the Will” if a certain percentage of the deceased spouses’ estate is not bequeathed to the surviving spouse (the percentages typically range from 30% to 50% of the estate).

Read more