My daughter died last year leaving her 401K to her ex-lover (10 years ago). The investment firm has been unable to locate the beneficiary.Is there any legal way her parents can lay claim to those funds?
State/Country relating to question: California
Contacted the financial organization. They tried contacting her by mail, but since my daughter and she broke up 10 years ago, she obviously has moved.
I tried Google search, but don't know (or remember) much personal info.
Unfortunately, I am afraid the parents cannot make a claim for that money unless they can prove he predeceased her which would invalidate that beneficiary status. This means you would need to get an attorney and a private investigator as part of the probate of your daughter's estate and if you do not either locate the beneficiary or prove they died before your daughter, the 401K company has to hold the money in trust for her and cannot release it. I am sorry.
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Paul - I'm hoping that my daughter put her father or myself as a secondary beneficiary. Don't know that for sure however. If that is the case, can we then claim the 401K?
You cannot claim the 401K unless you can prove the 1st beneficiary is dead, even if you are secondary beneficiaries and the 401K cannot release it to you unless there is proof the primary is dead I am afraid.
Experienced in Trust and Succession Law, including Louisiana Laws
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