Legal Question in Wills and Trusts in Florida

When someone passes away upon there death. How is the 401k handled? Will it go to the husband and not to the estate of the deceased? Do creditors have access to the 401k amount through the estate?


Asked on 11/20/17, 7:21 am

3 Answers from Attorneys

Barry Stein De Cardenas, Freixas, Stein & Zachary

It depends on whether a beneficiary was named. If named the money goes there that person.

Read more
Answered on 11/20/17, 7:31 am
Levi Wilkes Levi Lawrence Wilkes, Attorney-at-Law, PLLC

I agree with Mr. Stein above. Generally, 401k would be exempt from creditors. You should retain counsel however and have them look at all the documents.

Read more
Answered on 11/20/17, 7:54 am

I agree with the previous responses. It is important to name beneficiaries in 401k, life insurance, and other investment accounts. I recommend to not only name a beneficiary, but also alternate beneficiaries in the event the primary beneficiary dies before the person who owns the account. If there is no beneficiary named, then the account will need to go through the probate process.

Read more
Answered on 11/20/17, 2:11 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Florida