If my mom passed away last year and left my stepdad as the beneficiary of her 401k but before he got the check he passed away, who should be entitled to those proceeds?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my mom passed away last year and left my stepdad as the beneficiary of her 401k but before he got the check he passed away, who should be entitled to those proceeds?
Would it be his kids or my mom’s kids? He died a month after my mother?
Asked on February 13, 2016 under Estate Planning, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
Generally, the passage to the beneficiary is automatic, and the receipt of the check is just a formality. So... if the wording on the beneficiary plan is generic, then the funds passed to your step-dad... and then to any of his heirs.
However, some people have specialized beneficiary designations which require a beneficiary to survive for 30 or 60 days before they are formally deemed the heir. So... before any final decisions are made, someone needs to visit with the 401K administrators to determine the exact beneficiary designation.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.