Legal Question in Wills and Trusts in Illinois

Hello- I'm the beneficiary of a pension that my ex-wife had. She has passed away and I need to know if that pension is considered part of her estate or not.


Asked on 12/01/20, 5:54 pm

1 Answer from Attorneys

Henry Repay Law Offices of Henry Repay

If you are named as a beneficiary, the funds are paid direct and do not pass through a probate estate. They may, however, count for estate tax purposes (see a tax professional for advice). Also, there may be income tax consequences that can be avoided by moving the funds into another retirement account. Again, seek advice.

Read more
Answered on 12/01/20, 7:10 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Illinois