QUESTION
my 2 beneficiaries have died and i need to replace
Asked on Feb 15th, 2016 on Wills and Probate - Georgia
More details to this question:
can I do this without a lawyer and how do I go about doing this
2 ANSWERS
Probate Litigation Attorney serving Lawrenceville, GA
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IIf you have a will that identifies beneficiaries and any one of the beneficiaries is no longer alive, you should have a lawyer review your will to determine who will inherit instead of the deceased beneficiary. It may be that the deceased beneficiary’s spouse or children may inherit. It may be that the remaining beneficiaries share proportionately in the inheritance. It might be that the share for the deceased person goes through the residuary clause.
Without knowing what happens to the bequest, you can’t be sure if it is going to go to the proper person now. I would strongly urge you to see a lawyer and have the will updated to reflect that which you want today.
Answered on Feb 16th, 2016 at 5:24 AM
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It isn't clear what your situation is, but it sounds like the beneficiaries you named under some sort of estate planning document (a Will, an IRA, a life insurance policy, a POD account - I can't tell) have both died and you want to know how to name new ones. Legally, yes, you can try to prepare new beneficiary designations on any accounts that have them and you can prepare a new Will for yourself. Realistically, that isn't a good idea. You, and your intended new beneficiaries, would likely be much better off if you got an experienced estate planning attorney to help you ensure that what you want to have happen is what actually happens.
Answered on Feb 16th, 2016 at 5:15 AM
This answer is being provided as general information and not as legal advice. No attorney-client relationship is created by this answer.