Legal Question in Wills and Trusts in New York
If someone passed away and left a 401K account with 2 beneficiaries and it was supposed to be split half and half, but one of those beneficiaries has already passed away (before the account owner even passed away; beneficiary form was not updated), how is the money then distributed? All to the remaining beneficiary or half to the deceased beneficiary's descendants, and half to remaining beneficiary?
Asked on 10/15/15, 11:19 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
The $ should go back to the estate of the deceased.
Answered on 10/15/15, 11:26 am
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