Does a 401k by pass an estate?

Get Legal Help Today

 Secured with SHA-256 Encryption

Does a 401k by pass an estate?

The executor says it could bypass the estate if another beneficiary is named? Is that true?

Asked on February 4, 2017 under Estate Planning, Florida

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Assets such as 401k's, life insurance proceeds, IRA's, etc. which name a designated beneficiary, by-pass the probate process as they do not become part of a deceased's estate. Accordingly, these assets are paid directly to the person/entity listed.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption