[WSBAPT] Distribution of Class Action Rights by Assignment?

[John J. Sullivan]

Listmates:

I have an intestate estate with one beneficiary I'm serving as Administrator of. I'm at the point of being ready to make a final distribution and close it. Today, however, I received notice that the decedent is a member of a class in an ERISA class action lawsuit against an insurance company for overcharging on its investment fees. 

As we all know, the end of this road could be the trial attorneys getting paid handsomely and each member of the class receiving a check for $2.39. 

Has anyone dealt with this? Is it possible to preserve the rights of the beneficiary and authorize him to receive any distribution outright by written assignment with notice to the class action attorneys? Or would the probate have to be reopened?

The beneficiary is disqualified from serving as Administrator himself. 

Regards,
John Sullivan 

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