death of both spouses

[Philip Huebner]

What is the name of your state?What is the name of your state? Texas

Can someone please give me some ideas? I posted this last week but have not gotten an answer.

Hi, thanks in advance for your help

My wife and I have simple wills leaving everything to each other. she wants to make sure that if we die together her 3 siblings will get her half of the estate.

We have $300K, including $100K house,She has $108K 403b,I have $29K 401k the rest in cash and mutual funds. No debts.

1 Is it true that the 401 and 403 plans are not affected by a will?

2 If so what is the best way to get her half of the estate to her siblings if we die together?

 

[seniorjudge]

What is the name of your state?What is the name of your state? Texas

Can someone please give me some ideas? I posted this last week but have not gotten an answer.

Hi, thanks in advance for your help

My wife and I have simple wills leaving everything to each other. she wants to make sure that if we die together her 3 siblings will get her half of the estate.

We have $300K, including $100K house,She has $108K 403b,I have $29K 401k the rest in cash and mutual funds. No debts.

1 Is it true that the 401 and 403 plans are not affected by a will?

2 If so what is the best way to get her half of the estate to her siblings if we die together?

Q: Is it true that the 401 and 403 plans are not affected by a will?

A: If the beneficiaries on these plans are designated correctly, then the answer is yes.


Q: If so what is the best way to get her half of the estate to her siblings if we die together?

A: Your wills should say this. The lawyer who draws up your wills can phrase this correctly.

 

[Philip Huebner]

Texas

Thanks for your reply.

You said the lawyer who makes the will can phrase it correctly to leave her half of the estate to her siblings but if more than half the estate was made up of these 401s and 403s wouldn't that prevent them for being distributed by the will?

 

[seniorjudge]

Texas

Thanks for your reply.

You said the lawyer who makes the will can phrase it correctly to leave her half of the estate to her siblings but if more than half the estate was made up of these 401s and 403s wouldn't that prevent them for being distributed by the will?

Your question makes no sense. 401s and 403s are not part of the estate. Only what passes through probate (i.e., stuff solely in the dead person's name) is in the estate.