Legal Question in Wills and Trusts in Florida
Benificiary rights
My mother recently died and her will states, all is to be divided equally among us five kids. I was named specifically beneficiary of her 401K and profit sharing account from her job. This was not in the will, it came from the form she filled out through her job. My family says this is part of the estate and I should share with them. Is this true? One of my brother's was named beneficiary of her life insurance which was used for funeral expense...shouldn't he get the remainder? We are having a hard time trying to determine what we are to divide.
1 Answer from Attorneys
Re: Benificiary rights
Based on the facts you have given, you are correct that the 401(k) and profit sharing is not part of the probate estate. Those funds can go directly to you. Likewise the life insurance was not part of the probate estate and should have gone to the beneficiary in total. Funeral expenses are expenses of the probate estate and perhaps should have been paid for out of the probate funds all the "kids" will share. That said, you are also free to consider you mother's intent and what she would have wanted to happen with her money. You may want to consult a probate attorney to help with this estate and that may prevent one sibling from thinking some other sibling is taking advantage of the situation. Good luck, these sorts of issues can be very difficult on a family and that was probably not what you mother wanted.
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