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Will vs. Beneficiary

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suejohne

Guest
What is the name of your state? Massachusetts


If a person is the beneficiary of a 401K and the will states three people divide the estate equally, does the 401K become part of the estate to be divided? The will says all property, personal and real be divided equally.
 
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Dandy Don

Senior Member
If the "person" who is the beneficiary of the 401K is the surviving spouse, then that spouse has the right to this money without it being included in the estate, and other beneficiaries will have no rights to any portion of that money.
 
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suejohne

Guest
Dandy Don said:
If the "person" who is the beneficiary of the 401K is the surviving spouse, then that spouse has the right to this money without it being included in the estate, and other beneficiaries will have no rights to any portion of that money.
What if the person is the executor and not the spouse?
 

gowest

Member
The 401(k) goes to the beneficiary named as would an insurance policy. If no beneficiary is named it goes into the estate and is distributed as directed by the will. Since there is no spouse, [it] along with all the assets of the decedent make up the total value of the estate. If the estate is valued over $1,000,000 the next issue will be determining what percentage of the the estate taxes each person is responsible for.
 

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