401K

LEXIE · Posted: Sun Sep 14, 2008 8:15 am Post subject: 401K

MY HUSBAND DIES AND FORGOT TO CHANGE HIS 401K AND LEFT AS BENEFICARY HIS BROTHER, NOW WHAT HAPPENS AS FAR AS ME RECIEVING ANY MONEY? ARENT THERE LAWS TO PROTECT ME?

Lori · Posted: Sun Sep 14, 2008 2:00 pm Post subject:

First of all sorry to hear of the loss of your husband.

Depends on the state, but maybe not...You need to contact his employer and advise them you are contesting their payment....how long were you married? Were you still living together as husband and wife when he passed...how long has your husband been employed there? did he die thru any negligence of another? Will the brother willingly share?

InsTeacher · Posted: Mon Sep 15, 2008 10:15 pm Post subject:

Most states have laws that say the the spouse of the 401(k) decedent is the automatic beneficiary of any qualified retirement plan...like a 401(k). In those states, the only way to name a different beneficiary is if the spouse agrees in writing to allow a different beneficiary.

Could you tell us what state that you live in, and whether you signed any document that states that your husband's 401(k) beneficiary could be changed? Another thing- did you get married before or after the 401(k) was started?

These things will help us help you...

InsTeacher Cool

401K

In Discussion

Blogged

OurCommunityPower.org > Insurance Forum \| Debt Forum \| Mortgage Forum \| Credit Forum