Q: Who inherits 401k without a will in Texas: spouse or beneficiary?
I need to know if a 401k goes to the surviving spouse or the designated beneficiary when someone dies without a will. The deceased was from Texas, had a designated beneficiary on the 401k, and had grown children.
A: The designated beneficiary receives the 401k. Designating someone other than a spouse requires spousal consent. So, if the 401k beneficiary is someone other than the surviving spouse, it is very likely that the spouse at some point in time in the past consented.
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