Legal Question in Wills and Trusts in Illinois
Benificiary
My husband of 10 years has a 401K,
stock and ect. at work. On file at
work he has his son as the
benificiary . At the time of his death,
Will those items go to his son or me?
Asked on 4/19/07, 4:19 pm
2 Answers from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
Re: Benificiary
those always pass according to the benficary desiginations. If the son is the beneficairy then upon yous husband's death the son will receive the property.
please email me if you have any more questions.
Answered on 4/19/07, 4:40 pm
Jeffrey R. Gottlieb
Law Offices of Jeffrey R. Gottlieb, LLC
Re: Benificiary
You have rights under ERISA law in a 401K plan as a surviving spouse. Normally a non-spouse cannot be made beneficiary of a non-IRA qualified plan without a specific waiver from the specific spouse. If you didn't sign such a waiver, then you may have a claim against the plan when your husband dies.
Answered on 4/19/07, 7:19 pm