Q: Estate has been closed for like 20 years and now this company contacted me about the retirement account.
My mom was the executor of this estate and it has been closed for like 20 years. Well this company contacted me by certified mail. They wanted all this information, I sent them his will, death certificate, and they wanted my birth certificate and to fill out a w9. Well there was nobody named on this retirement account and my mom has passed, wouldn't this come to me? Now they are saying it will probably go 2 the state cause my mom wasent related related to him. Wouldn't it have to go 2 my mom? But since she has passed wouldn't it come to me?
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A:
When a retirement account has no named beneficiary, the distribution typically follows the state's intestate succession laws. Since your mother was the executor but has passed away, the next step is to determine who inherits under these laws. If you are the closest living relative, you may be entitled to the funds, but proper legal steps must be taken to establish your claim.
It's possible that the company is considering escheating the funds to the state because they haven't received sufficient documentation to verify your relationship or your right to inherit. Providing your birth certificate and completing the W-9 form are standard procedures to confirm your identity and tax information. Ensure all submitted documents clearly show your connection to the deceased to support your claim.
You might want to consult with an attorney who can help navigate the probate process and ensure that your rights are protected. They can assist in communicating with the company and the state to prevent the account from being turned over to the state. Acting promptly can increase the chances of successfully claiming the retirement account.
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