More details to this question:
My parents divorced after 35 years of marriage. He remarried, she didn't. My mom died in 2004 and my dad in 2008. He never changed the beneficiary of his pension to my stepmom. She was the sole heir in his will, but the company handling the annuity from his pension says she has no right to it. My brothers and I were beneficiaries to my mother's estate. Do we have any claim on my father's annuity or does it just go up in smoke? We just want to give the money to our stepmom. She is really struggling.
1 ANSWER
Kevin Spencer
If the pension was an ERISA plan, then the beneficiary or beneficiaries named is the person or are the persons that get the benefit, regardless of the Decedent's marital status. If it passes to you and your brothers, then you all will need to claim the proceeds. If you all disclaim, then there will be a hierarchy of persons that take, which will culminate in your dad's Estate receiving the proceeds. In such case, the pension will then pass according to his Will, i.e., to your step-mom.
There is some legal wrangling that must take place and you have to coordinate with the pension plan administrator. I recommend you hire an attorney to help you with the process.
Sincerely,
Kevin Spencer
www.spencerlawpc.com
(214) 965-9999
Answered on Jan 03rd, 2017 at 1:21 PM