Legal Question in Wills and Trusts in Maryland
if a 401k has a beneficiary other than the executor of the will can the exeucutor divy up the 401k to several heirs and the beneficiary?
Asked on 7/21/10, 11:47 am
2 Answers from Attorneys
Charles Stewart
Law Office of Charles R. Stewart, LLC
No. The 401(k) should pass according to the beneficiary designation and would not even be part of the probate estate. The executor does not have any authority over the 401(k).
Answered on 7/21/10, 8:19 pm
Richard Abraham
Abraham & Bauer, LLC
The PR (executor) normally can only conduct business on assets in the estate. Any asset that names a beneficiary should only be distributed to that person. The contract that names the beneficiary is enforceable over the contents of the decedent's WILL. Absent the beneficiary somehow renouncing his/her rights, the terms of the 401(k) should be upheld. If you need assistance feel free to telephone the office
Answered on 7/22/10, 5:18 am
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