Legal Question in Wills and Trusts in Arizona
My wife passed away in 2003, I sent the necessay COD and the court appointed Personnal Represenative document to her 401k. Whenever I receive anything from them it is in her name, I have talked to them without success in fixing this, can I distribute the funds to me and will I be able to cash the check made to her being that I am the PR?
1 Answer from Attorneys
It is not clear when you opened the probate of your wife's estate, but it would seem that the estate should have been closed a long time ago, and that the estate should have been distributed to the lawful heirs already. That said, I would want to know if there was a beneficiary designation on the 401k account. If so, the account should have been transferred to the designated beneficiary automatically by operation of law, the moment that you sent the administrator a copy of the death certificate. If there was no beneficiary designated, then the account would be payable to the estate, and you, acting as the PR of the estate should be able to receive the check, deposit it in the estate bank account, pay her bills and income taxes, and then distribute the estate to the heirs of the estate, and close the probate.