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    jan1236's Avatar
    jan1236 Posts: 3, Reputation: 1
    New Member

    Mar 22, 2012, 11:48 AM
    Husband deceased, but not sure if I am beneficiary
    My husband passed away and left a 401k, I am not sure if he left me as beneficiary so can you please tell me the steps I need to take.

    Thank you
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert

    Mar 22, 2012, 12:03 PM
    Who is the 401 invested with? Did he leave a will?
    jan1236's Avatar
    jan1236 Posts: 3, Reputation: 1
    New Member

    Mar 22, 2012, 12:44 PM
    Husband deceased but not sure if I am beneficiary.
    Husband deceased, not sure if I am the beneficiary. He left no will and 401k was with diamond back deliveries company in tempe, az and they went out of business due to bankrupty. Need information and steps to take to get funds.
    Thank you
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307

    Mar 22, 2012, 01:32 PM
    Call the 401(k) plan administrator and ask how to proceed. Check recent account statements - there should be a contact phone number provided. In general the process is you will have to provide a certified copy of the death certificate, and then the account is retitled for the beneficiary (or beneficiaries). The administrator can also tell you what your options are - you should have options to roll the 401(k) to an IRA in your name (and hence continue to take advantage of tax-deferred growth), or take a lump sum, and some plans will allow you tp manitain the 401(k) but now in your name. Keep in mind that if you take a lump sum and do not roll it to your own IRA you will owe income taxes on the distribution.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307

    Mar 22, 2012, 01:38 PM
    I answered your other (similar) question here:

    The fact that he left no will has no direct bearing on what happens with the 401(k), assuming that he identified a beneficiary (or beneficiaries) for it. If he did not, then since he died intestate the 401(k) is distributed in accordance with the laws of AZ for intestate inheritance. If he has children then the estate will be split between his you and the children.

    The fact that the company went bankrupt shouldn't matter, since in fact the 401(k) plan administrator is typically a financial firm such as a bank, insurance company, or investment firm like Fidelity, Vanguard, or Schwab. As I mentioned in the other post, you need to find out who the administrator is and call them.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692

    Mar 22, 2012, 02:20 PM
    He should have been getting a statement at least once a year. Have you gone though all of the important papers>
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member

    Mar 30, 2012, 09:10 AM
    Go to Bankruptcy Court and look through the file. The 401K would have been listed with the pertinent info.

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