QUESTION

I'm my mother's only son, how do I go about getting her 401k?

Asked on May 05th, 2016 on Estate Planning - Ohio
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2 ANSWERS

Commercial & Bankruptcy Law Attorney serving Powell, OH at Ronald K. Nims
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First, you'll need to make sure that you're named as the beneficiary of the 401(k), then do her in. Seriously, 401(k) plans - and all other retirement accounts - are a contract between the participant and the financial institution. One of the terms of that contract is who gets the funds upon the participant's death. That means a will, or lack of a will, has nothing to do with the distribution.
Answered on Jun 07th, 2016 at 7:18 AM

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Corporate/Business Attorney serving Beachwood, OH at Christine Sabio Socrates Attorney at Law
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If you are listed as the beneficiary, you can contact the financial institution that her 401(k) is with and complete their forms and provide a death certificate. If you are not listed a beneficiary and there are no other ones named, it would be payable to her estate and you would need to open a probate estate in the county in which she resided at the time of her death. I would be happy to assist you in this matter, you can contact my office.
Answered on Jun 01st, 2016 at 5:53 PM

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