Legal Question in Wills and Trusts in West Virginia
401k advice
my daughter is adminastrator over here dads belongings. Her Grandmother is benbficiary over her dads 401k. she has alot of bills to pay. can his 401k pay his bills? Also the Grandmother was told by his boss the money was for his bills and he wanted the rest to take care of his 2 grandbabies.She {gramdmother} put her other 2 sons for the beneficiary of the 401k.CAn she do this? And does my daughter have any rights to any of the 401k.This is his onliest child.
1 Answer from Attorneys
Re: 401k advice
If the grandmother was the named beneficiary and her designation was approved, in a notarized writing by the spouse (if any) or the designation is approved by a notarized signature of the plan administrator; then the grandmother is entitled to the proceeds of the 401k. She has the right to honor the express intent of her son but is under no legal obligation to do so. Of course, you should consult a lawyer because there may be facts or information you have that impact on this matter. This reply is intended to be a general statement and cannot be taken as specific legal advice to you or your daughter.
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