Does a 401k by pass an estate?
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Does a 401k by pass an estate?
The executor says it could bypass the estate if another beneficiary is named? Is that true?
Asked on February 4, 2017 under Estate Planning, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Assets such as 401k's, life insurance proceeds, IRA's, etc. which name a designated beneficiary, by-pass the probate process as they do not become part of a deceased's estate. Accordingly, these assets are paid directly to the person/entity listed.
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