Legal Question in Credit and Debt Law in Virginia

401K Death Benefits

My husband died with no will and no money (we were separated but not legally at the time. He has a lot of debts and the only asset he has is his vehicle. I am the beneficiary on his 401k. Am I required to pay his debts with this money? Also he took money out of his 401k this year. Who has to pay the penalty to the IRS?


Asked on 4/29/08, 3:11 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: 401K Death Benefits

Your deceased husband's estate would be responsible

for his debts, including any penalties which might be owed to the IRS for premature withdrawals from his 401K.

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Answered on 5/03/08, 2:53 pm


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