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Asked 6/27/2010

Who has legal right to the 401K of a deceased person?

Who has the legal rights to the 401K of a deceased person? The beneficiaries named years before on the 401K or the person named in a current Will who was suppose to get it?

 
 
 
 
 
Answers

Answer 1/2 - Submitted 6/28/2010

A 401(k) is not part of the probate estate -- it is not controlled by the will. If the decedent had wanted someone else to get the 401(k), the beneficiary information should have been updated.

 
 

Answer 2/2 - Submitted 7/1/2011

The plan administrator would have a beneficiary form on file if one was submitted that would dictate the disbursement of the plan assets. If that exists, that is the form that decides the beneficiary or beneficiaries.

 
 
 
 
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