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USTaxAdvising
USTaxAdvising, Accountant
Category: Finance
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Experience:  Professional with finance related questions.
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My husband has his name as primary beneficiary on 401k Then

Resolved Question:

My husband has his name as primary beneficiary on 401k Then the relationship status sais spouse beneficiary The social security nu ber tab has my number and 100 percent, and my date of birth.   The data (name) seems incorrect. Although is sais spouse beneficiary and has my social security number, the name as primary beneficiary is incorrect. He put his own name. I dont remember it like this and wonder if it has been changed, yet the social security number is XXXXX There is no way I can ask him because we are not getting along. I know he can be manipulating and dont trust anything anymore, even if benign. Is the way this beneficiary designation is listed going to present a problem if the name is XXXXX XXXXX the social security number is XXXXX? How would it be looked upon ? (I am named in his will to receive all real and personal property upon his passing  Many thanks

Submitted: 3 years ago.
Category: Finance
Expert:  USTaxAdvising replied 3 years ago.

USTaxAdvising :

Hello,

USTaxAdvising :

Is the way this beneficiary designation is listed going to present a problem if the name is XXXXX XXXXX the social security number is XXXXX? - No, this should not be a problem at all. If it says the spouse is the beneficiary and you are his spouse then there will be no issues. The fact that he made a mistake on the form and the administrator of the 401K plan did not have the error corrected upon submission should not cause any problems. The main thing is that you cannot be your own "primary beneficiary."

USTaxAdvising :

How would it be looked upon ? - at the time of his passing I would think it would be looked at as purely an error and that you would be the primary beneficiary as that is what the form also says. Since it has your name and SSN as well.

USTaxAdvising :

I don't think you have anything to worry about at all, I am confident you would be primary beneficiary of the 401K plan given the current standing of the form.

USTaxAdvising :

I trust this provides the assurance you were looking for, please let me know if you have any further questions.

USTaxAdvising :

Best regards,

USTaxAdvising, Accountant
Category: Finance
Satisfied Customers: 1233
Experience: Professional with finance related questions.
USTaxAdvising and 2 other Finance Specialists are ready to help you
Expert:  USTaxAdvising replied 3 years ago.

Hello Dawn,

 

Just following up. Please accept or rate my answers if I have answered your questions to your satisfaction. Otherwise please let me know where I can provide additional clarity.


Thank you.

 

Best regards,

USTaxAdvising, Accountant
Category: Finance
Satisfied Customers: 1233
Experience: Professional with finance related questions.
USTaxAdvising and 2 other Finance Specialists are ready to help you
Customer: replied 3 years ago.
thank you for reply.
No, it doesn't have my name, just my social security number and date of birth.
Hope this is clearer, His name is listed.
I assume you still believe that this would be no problem.
thanks once again.