Is my minor son entitled to his deceased fathers 401k? 6 Answers as of June 07, 2011My sons father passed in February after working for a company for well over 30 years. He was not married and my son is his only child. I just received a letter stating that his sister has been appointed personal representative of the estate. Does this mean she gets the 401k or is my son still entitled to it?
Burnham & Associates | Stephanie K. Burnham
You should hire an attorney to represent your son's interest as what your son is entitled to will be based on the intestacy laws in the state in which his father was a resident. The 401K may be your sons if there is no beneficiary designation on the account.
Answer Applies to: New Hampshire
Theodore W. Robinson, P.C. | Theodore W. Robinson
Your son is primarily entitled to the 401k plan. The sister has apparently been named the Administrator of the Estate and it's her job to work all that out and report to the Court what she intends to do with the estate. You, as the Guardian of your son, should be given a full accounting of the Estate and be asked to sign off on it if it makes sense and if your son is still a minor. Good luck.
Answer Applies to: New York
The Coyle Law Office | T. Andrew Coyle
Whoever is named as the beneficiary of the 401(k) would be entitled to that account. If there is no beneficiary listed, and if the father did not have a will, then your state's intestacy statute would determine who is entitled to the account. The naming of the sister as representative does not mean that she gets the account, only that she is in charge of making sure the proper party(ies) receive it.
Answer Applies to: Illinois