Can a beneficiary of a money market account agree to pay 3500 on funeral and keep 6500 or keep whole 10,000?
The beneficiary of a money market account from a deceased person doesn't have to pay any money on the funeral of the deceased.
The debts of a decedent are payable by the estate of the decedent and not by any named beneficiaries.
The beneficiary, if direct is not required to pay anything. The accout goes directly to that person. Funeral expenses are met by the assets under probate, those considered part of the estate.
No such thing as a "beneficiary of a money market account."
FAulty question. You can't be a beneficiary of a money market account. You can inherit it upon death of the owner, but any of the owner's debts have to be paid from it first - including funeral expenses.
Answers:
Just because you may be beneficiary of an account, the estate must me settled. The only way you can get this money without probate is if your name is on the account also. The only way to avoid the probate completely is life insurance or annuities. If it is in an Annuity at the bank and you are beneficiary, then yes you could keep the entire amount without probate or paying debts.