QUESTION
Is my mom entitled to her father's retirement that just passed or can her sisters fight it?
Asked on Jul 12th, 2013 on Estate Planning - California
More details to this question:
My mom's sister who is deceased and my mom were put on my grandpa's retirement who just passed away. Is my mom now entitled to that retirement? Or can her other sisters fight it?
12 ANSWERS
The beneficiary designation should prevail if there are any post death benefits.
Answered on Jul 15th, 2013 at 9:37 PM
The answer is "it depends". Depends on what is written in the document. Whether the "retirement" had a beneficiary and whether the beneficiary was a joint beneficiary or whether joint with rights of survivorship.
Answered on Jul 15th, 2013 at 9:37 PM
Sasha D. Oberle
The disposition of retirement accounts are typically governed by the beneficiary designation of that account. Each financial institutions has their own beneficiary designation form. You should consult the institution holding the retirement funds to determine who takes in the event one of the beneficiaries predeceases the account holder.
Answered on Jul 14th, 2013 at 8:01 PM
2 Awards
If your mother is the only surviving named beneficiary, as long as her father had capacity and there was no undue influence, it generally belongs to your mother by law. Look at the contract however, as it could say something else. At James Law Group we make every effort to respond to you quickly and efficiently. This means we may be responding to you from a mobile device. As you know, responding on these devices can result in typographical errors that my otherwise not occur. In order to provide this extra service, please be aware of this and excuse any errors that may be caused by responding in this forum. The content of this message is protected by attorney-client privilege.
Answered on Jul 14th, 2013 at 8:00 PM
3 Awards
Anyone can fight and sue, but if the beneficiary is named as such on the retirement plan that is who will receive the monies in the plan.
Answered on Jul 14th, 2013 at 8:00 PM
Bankruptcy Attorney serving Florissant, MO
at
Law Offices of Thomas Corcoran Phipps
Update Your Profile
On a retirement plan you will have to check with the employer and the administrator of the plan to find out who is entitled to benefits.
Answered on Jul 14th, 2013 at 8:00 PM
Thomas Edward Gates
Only those listed a beneficiaries on the retirement account will benefit. The decease sister's children may be in line to receive something depending upon the language in the policy.
Answered on Jul 14th, 2013 at 8:00 PM
Business Planning Attorney serving Livonia, MI
at
Frederick & Frederick Attorneys at Law
Update Your Profile
It depends on the way in which the form was completed and the company policy, in question. It may be 100% your mom's, or it might be 50% your mom's and 50% the estate of your aunt. I would contact the benefits office of the company and find out what their policy is.
Answered on Jul 14th, 2013 at 8:00 PM
Trusts Attorney serving Sacramento, CA
at
Law Office of Victor Waid
Update Your Profile
The beneficiary of the retirement is your mother, since your mom's other sister is deceased who was named as a beneficiary; the remaining sisters who were not named, are not entitled to receive; the other sisters may attempt to fight but they would be liable for attorney fees and costs if they lose, which would seem to be the case here.
Answered on Jul 14th, 2013 at 7:59 PM
The retirement estate would pass to your mother and the heirs of her deceased sister, which may or may not be your mother and her other sisters did the deceased sister have any children or a spouse?
Answered on Jul 14th, 2013 at 7:59 PM
Business Law Attorney serving Livonia, MI
at
Gerald A. Bagazinski
Update Your Profile
Look at the summary Plan Description. What does the section say about beneficiaries. I think Mom takes.
Answered on Jul 12th, 2013 at 11:54 PM
Estate Planning Attorney serving Torrance, CA
at
The Law Office of Kelvin Green
Update Your Profile
I am sorry for your loss. Most retirement plans are governed by the contract of the plan. I would suggest contacting the plan administrator and then go from there.
Answered on Jul 12th, 2013 at 11:14 PM