QUESTION
What can I do if I was entitled $58,000 from my father's death, yet when the company turns his 401K over to me it only has $3,000 in it?
Asked on Mar 02nd, 2013 on Estate Planning - Michigan
More details to this question:
I was entitled $58,000 from my father's death, yet when the company turns his 401K over to me it only has $3,000 in it, yet a month or so before I get the account they said I was getting $58,000. I wanted to know what actions I could take.
14 ANSWERS
You should hire a lawyer to write a letter to the company which administered the 410K.
Answered on Apr 01st, 2013 at 3:06 AM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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You should meet with a lawyer who can review the documentation and the representations, and give you some advice that is specific to your case. There is no one-size-fits-all set of steps to be taken here. You might first want to contact the company that held the 401K, however, to see if they can explain the discrepancy to you.
Answered on Mar 06th, 2013 at 1:33 PM
Shadi Ala'i AlaiShaffer
You really need to consult or hire an attorney to give you the proper legal feedback.
Answered on Mar 06th, 2013 at 1:33 PM
Estate Planning Attorney serving Marquette, MI
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The Wideman Law Center, P.C.
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You need to see an attorney to determine your rights and find out whether or not you have a claim.
Answered on Mar 06th, 2013 at 1:32 PM
Take these actions: 1. Get all the statements on the account. 2. Take all documents to an attorney who specializes in estate administration. 3. Do this immediately before your rights are terminated by delay.
Answered on Mar 05th, 2013 at 2:40 PM
Real Property Attorney serving Utica, MI
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Douglas A. Tull, P.C. Attorney at Law
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Go see an attorney.
Answered on Mar 05th, 2013 at 2:39 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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It is impossible to say without knowing the reason for the difference. Who got the other $55k and why? You cannot figure out what to do about what happened until you know what happened.
Answered on Mar 05th, 2013 at 2:39 PM
You need to have all the records gathered together for an attorney to review, which would include the death certificate, 401K plan documents, beneficiary designation, correspondence and statements.
Answered on Mar 05th, 2013 at 2:39 PM
Ask for past statements of the account to show the values of the assets. If the statement showed a lot of money the month before distribution, you need to consult with an attorney.
Answered on Mar 05th, 2013 at 2:38 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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First you need to find out if he had a loan against it.
Answered on Mar 05th, 2013 at 2:38 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Obtain a probate litigation lawyer to make a demand on the company to the funds; however, there may be some valid reason for denial of payment; attorney will need to do some investigation, before making the demand.
Answered on Mar 05th, 2013 at 2:38 PM
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Contact the company and ask them what happened. If you don't get any answers you will have to file in court.
Answered on Mar 05th, 2013 at 2:38 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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You should take the information which you have to an attorney, explain the situation, provide the documents and hopefully he or she will be able to make sense out of your situation.
Answered on Mar 05th, 2013 at 2:37 PM
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You should review the statements of account activity. Maybe there was a loan against the account. Debts are to be paid first.
Answered on Mar 05th, 2013 at 2:37 PM