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Primary Beneficiary Deceased - how are assets distributed?

Atlanta, GA |

My grandfather had mutual fund with my father and his brother as beneficiaries. My father predeceased my grandfather. As the only child am I entitle to my father's share. This is the wording for the mutual fund. " If any primary beneficiary is deceased at the time of your death,
his or her assets will be divided proportionately among your surviving primary beneficiaries.
Your secondary beneficiaries will inherit your assets only if you have no surviving primary beneficiaries at the time of your death. ' The will states all real, person and tangible property is to be divided among surviving children, per stirpes. '

Attorney Answers 3


Since the fund apparently passes outside the will, the will is irrelevant. Assuming your father's brother is living and the facts you posted are correct, you get none of the mutual fund.

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No, you will not receive any insurance as one of the primary beneficiaries is alive.

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I agree with my colleagues. If your uncle is alive, then he would take all. If he is not alive, then secondary beneficiaries take per stirpes (meaning dad's heirs get 1/2 & uncle's heirs get 1/2).

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