[WSBAPT] 401K without a beneficiary

[Jeff at bellanddavispllc.com]

I have run into this where no beneficiaries were named.  The administrator defaulted to the Estate.  They liquidated the account and wrote a check to the Estate (thank you for the income tax debt).

 

Jeff

 

W. Jeff Davis

BELL & DAVIS PLLC

Attorneys at Law
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email:  <mailto:jeff at bellanddavispllc.com> jeff at bellanddavispllc.com
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Anna Van Pelt
Sent: Friday, September 29, 2023 1:38 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] 401K without a beneficiary

 

I'm in a debate with an HR administrator and hoping someone has encountered this before. It's a first for me. 

 

Intestate decedent failed to name any beneficiary on their 401K. They are survived by their spouse and minor child. HR administrator says the financial institution can name a beneficiary if there isn't one; I'm concerned that it needs to go through probate. FWIW there is other separately owned real estate that is also requiring probate. 

 

Has anyone else encountered this? 

 

Thanks,

Anna


 

 

Van Pelt Law 

(206) 635-7250

www.vanpeltlegal.com <http://www.vanpeltlegal.com> 

 



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