[WSBAPT] Slayer statute and IRA beneficiary designations and/or ERISA pension

[Philip N. Jones]

If the IRA custodian files an interpleader action, the custodian will likely be able to have its attorneys paid from the IRA.  You might be better off filing your own suit and asking the custodian to hold off.
Phil Jones

Philip N. Jones
Duffy Kekel LLP
Portland, OR
pjones at duffykekel.com
(503) 853-1482 cell

On Aug 29, 2022, at 4:16 PM, Diane J. Kiepe <DJKiepe at depdslaw.com> wrote:


Oh Eric,

I don’t have any advice but I would quickly file a TEDRA and request a court order that  money be paid to court clerk or other account that would protect parties.  I did a quick search of “does slayer statute apply to 401(k) plans” and got some interesting hits (but didn’t review them).    I think there may be a split in jurisdictions on if a state slayer stature trumps Federal rules related to qualified plans.

Please keep us posted.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Monday, August 29, 2022 3:24 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Slayer statute and IRA beneficiary designations and/or ERISA pension

What’s the mechanism to enforce the slayer statute against an IRA beneficiary? I assume the IRA custodian isn’t going to hold the funds until the issue is wound out in court. Do I have to let the distribution happen and then sue the slayer?

Same problem with pension rights, 401(k), and the like that are subject to ERISA. The custodian of an ERISA-governed account follows their plan documents and ignores state law. Is the only remedy a lawsuit against the slayer to try to claw back the benefits they receive?

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

Covid-19 Update - All attorneys are working remotely during regular business hours and are available via email and by phone. Videoconferencing also is available. Signing of estate planning documents can be completed and will be handled on a case-by-case basis. Please direct mail and deliveries to the Seattle office.

***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbapt
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20220830/d1df40ac/attachment.html>