About estate?

Question

I sent a question about my daighter father passing away, i did not point out that this was a retirement fund that was giving to him through his old job and that he had never put anything into it. I was something the company gave. Should my daughter try and open the estate before other family does and have them fight us in court

Answer 1

Was there a designated beneficiary named on this retirement fund? If so, it goes to whomever was named, whether that be the parents, siblings, wife, or child of the deceased.

IF there were no beneficiaries named, the fund becomes part of the estate and will be distributed according to what was said in the will.

IF there was no will, the estate will be proceeded according to intestate (without a will) state statutes. I can't tell you exactly what that is, since I don't know the state where the man died.

If she is the only child, and he didn't have a surviving spouse, it would probably be a good idea for her to file for probate.

Answer 2

I didn't see the other question. Did her father have a will? Or is the court handling the disposition of assets? If he left a will, then the document needs to be adhered to. If he didn't then the estate will be divvied up according to next of kin rules - wife first, children next, then parents. Whether the company contributed the funds or him doesn't make any difference. What makes a difference is if it's a defined benefit plan or a defined contribution plan. Typically, a defined benefit plan ends with death, but not necessarily.

Answer 3

I'm no lawyer but in most cases when the recipient of a retirement fund that is fully funded by the company ,becomes deceased, the benefits from it usually stop also. This may not be the case here but I would try to find out more and most definitely contact a wills & probate lawyer.

Answer 4

shut up ...for all you know you are still the beneficiary of the fund.