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no will and I'm beneficiary on ins. & 401K

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jenjen1972

Guest
What is the name of your state? Pennsylvania

My ex-husband committed suicide last Monday. He left no will. Before he could be buried, his 3 brothers cleaned out his apartment and are in the process of trying to tie up loose ends. After our divorce my ex put my name down for his employer provided life insurance policy and on his 401K & profit sharing plans. We discussed this before his death and he said he wanted me to be provided for. Now his brother wants to go to a lawyer, have himself named as executor and he expects me to sign over my rights to the insurance and savings plans. Do I have to do this? Is the insurance and savings plan part of his estate if there is no will? Or am I free to do what I want to with this money? My ex has no children and no new wife. Also, his brother told my ex's employer that I wanted to turn the benefits I receive over to the estate and I was told today by the HR supervisor that my ex's employer will help me do that if it is what I wanted to do. I didn't indicate to her that I wanted to turn over this money to the estate. My ex owed thousands of dollars to credit cards, hospitals and numerous other companies. Do they have a right to the insurance and savings money if there is no will? Will I be held responsible for these debts because I am the beneficiary? The debts were ran up after the divorce and do not have my name on the accounts. I need some sort of direction so I know how to proceed with this. I am physically disabled and cannot afford a lawyer due to a fixed income.
 


Dandy Don

Senior Member
My sympathies on your loss and having to deal with all of this in the middle of grieving.

Any monies that you receive as a designated beneficiary are all yours to keep and pass outside of the estate, so probate is not necessary. You can spend this money any way you wish.

It's hard to believe that your husband did not have other assets to be able to afford to help pay off his debts, but unfortunately for his brothers, he estate is bankrupt and most of the debts will have to go unpaid. Don't let this brother or anyone else intimidate you into forking over any of this money. However, if you want to voluntarily take care of a few of the obligations, then that is your choice.

The creditors will have no way of knowing who got what from the estate and you don't have to worry about them.

DANDY DON IN OKLAHOMA ([email protected])
 
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jenjen1972

Guest
not be nosey, Dan, but...

are you a lawyer or...? I was just curious on how you have so much useful knowledge.

Also, when I get the papers from my ex's employer regarding payment of benefits, could I take it to my own personal insurance agent to have him look over it? I am scared that I may unknowingly sign something that would be bad for my rights. I read everything I sign but if I don't understand parts of what I read, what good does it do me? Are there certain phrases or wordings that I should be looking for that would be a red flag?

Thank you so much for helping me with this. I feel like I can't grieve properly because I am having to deal with this problem.
 

Dandy Don

Senior Member
You do understand that this message board is for people who want responses from attorneys, don't you?

Yes, you could discuss the forms with your personal insurance agent or anyone else (a friend, relative or co-worker) who is business savvy and has common sense. The forms really should not be too difficult for you to understand, but it never hurts to get a second opinion about anything that you don't understand.

Only discuss this with the insurance agent as a last resort. If she knows you now have other income, she may try to sell you more policies that you may not need.
 
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