Q: My mom passed away in Queens, NY, 2015. She had no will. I recently found out she has 2 401K accounts.
A: If there is a designated beneficiary, that person just needs to present a death certificate and fill out forms to get the money. If there is none, then there needs to be an estate formed. What kind turns on the amount of money. Definitely not a big deal.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- New York
- (908) 460-5431
- View Profile
- Answered
A: If you or your relatives are the beneficiary you'll need to get a death certificate and find out the terms of the accounts (i.e. who is the designated beneficiary) to collect the funds in the account after the securities / assets are sold. If there is no designated beneficiary and no will as you mentioned then a surrogate's court proceeding called an "Administration Proceeding" should be initiated so that the Public Administrator can take control of the accounts and distribute to your mother's heirs.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
