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Inheritence Questions
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Fellers Ranch
Posted 2/16/2024 18:17 (#10626371 - in reply to #10619375)
Subject: RE: Inheritence Questions


Conger, MN
I am not sure I understand the situation.

You said that you are apparently the beneficiary on a number of things. But then you said that your mother asked you if you want anything.

If you are name as a beneficiary, then the item in question is yours. Whether it is a pension, a life insurance policy, an IRA, etc., it would not be your mother giving you permission to have something. Your grandfather made that decision. Some of those items may be designated to go into a custodial account for some period of time, but whatever it is, is still yours.

Given how long ago your grandfather passed though, you should have been informed of what you were named as beneficiary on. If the items have not yet been collected, that should happen soon.

As for items that don't have a beneficiary (or a "payee" for a pay-on-death designation), then the state's intestacy statute will apply . . . and any of those items (such as the tractor) would need to come through your mom.

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