Legal Question in Wills and Trusts in North Carolina
my brother passed away with no living will he has a 401k that he had my niece is the surviving adult
it's been 2 yrs now . how long can his old employer hold his 401k and do she need a probate lawyer.
1 Answer from Attorneys
A living will is not a will at all. It is a directive to one's doctor. In NC, it is called a "an advance directive." I assume that what you meant is that your brother had no written will and had no trust either. You mention your niece. I cannot discuss your niece's legal issues with you for ethical reasons. If she is an adult, then she needs to notify the employer and take steps to claim the funds. She should start with the Human Resources director as they can tell her who the handled the 401(k). Your niece will ultimately have to contact the plan administrator - if she knows who that is already, then contact them directly. Beneficiary designated assets do not go through probate. However, your brother may have had other assets which will go through probate and it is for that reason that your niece may want to talk to a probate attorney.