Legal Question in Wills and Trusts in New York
Domestic Partnership Pension
We have a domestic partnership.
Her will is old and only her son is in it. She said I'll have no problems.
She is putting me down for her
IRA and pension benefit. Does it matter that I'm not in the will?
Asked on 5/07/09, 6:09 pm
1 Answer from Attorneys
Warren Markowitz
Warren R. Markowitz, Esq
Re: Domestic Partnership Pension
Penion and IRA beneficiaries transfer outside of Probate, and are known as testamentary substitutes.
The defined beneficiaries of such products allow the trustees to distribute the funds when they are presented for such a request along with documentation that indicates the primary is dead.
I do suggest that your partner update her will in order to avoid potential problems that may arise if your relationship sours or if the relationship with her son does.
Answered on 5/07/09, 7:04 pm
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