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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 34334
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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I'm am sole beneficiary diseases friends pension and tda

Customer Question

I'm am sole beneficiary for my diseases friends pension and tda accounts. My friend was never married but he has father and siblings ,can his family conest it , how to go about keeping just one money and let family have the other without paying tax penalties .What should I do
Submitted: 9 months ago.
Category: Estate Law
Expert:  Barrister replied 9 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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The beneficiary designation on the accounts will control who they go to. So if you are the named beneficiary, they will come to you as they won't be considered part of the person's estate so as to go through probate. So as long as the person was competent when they made the designation, there is nothing that the family has to contest.

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As for giving up the right to inherit one or the other, you would have to send a written notarized disclaimer to the administrator of the account as well as the executor of the estate formally waiving any legal right to inherit those funds.

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thanks

Barrister

Customer: replied 9 months ago.
Very satisfied
Customer: replied 9 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Barrister replied 9 months ago.

You are very welcome. Glad to help any time..

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If you feel your original question and any related follow ups have been answered, I would very much appreciate a positive rating on the answer I have provided so I receive credit for my work. If you have a new question the JustAnswer folks require that you start a new question page, but you can request me by putting "For Barrister" in the caption and they will get it to me.

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thanks much

Barrister

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