Ifmy father receives a pension check and he passes away, does the remainder go to his beneficaries or to pay off his debts?
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Ifmy father receives a pension check and he passes away, does the remainder go to his beneficaries or to pay off his debts?
Asked on July 17, 2011 under Estate Planning, Kentucky
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Depending on how your father's pension is written, his beneficiary would get benefits for a while but the frequency and length will depend on the plan. As to debts, it is usually shielded from most debts except for things like back alimony and back child support. If you are considering changing beneficiaries, think about talking to your father, have him review his plan(s) and see what his options are. If the pension is part of a bigger estate, and you are considering a trust, some items like pensions do fall outside of the trust estate.
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