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Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 57736
Experience:  Licensed attorney helping individuals and businesses.
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My son died January 10, 2016. He was not married but has 1

Customer Question

My son died January 10, 2016. He was not married but has 1 son that is 23. Prudential paid his life insurance to the son, but his company Xerox requires an estate account be set up to pay out his 401K contribution (less than $3,000). My grandson has given me power of attorney to act on his behalf. What documents and procedures do I need to set up this estate account for my son
Submitted: 12 months ago.
Category: Estate Law
Expert:  Infolawyer replied 12 months ago.

Hello and welcome. I am working on your answer and will be right back!

Expert:  Infolawyer replied 12 months ago.

I am very sorry for your loss. Normally you would go to the bank to open the estate account which bank will want to see the poa, any will or policy, death certificate and ID. The bank may require that you obtain an order from the surrogate court and letters adminstration to cut the proceeds. The 401k should be paid to the named beneficiary under the account as designated in his 401 plan.

Customer: replied 12 months ago.
unfortunately my son did not name anyone to receive his 401k monies. nor on his life insurance policy
Customer: replied 12 months ago.
no thanks, ***** ***** to be costing me too much - will try someone local
Expert:  Infolawyer replied 12 months ago.

There is only one charge for the question.

If no one named as beneficiary, it would go into the estate, and pass under his will, and absent a will, next of kin under intestate

Expert:  Infolawyer replied 12 months ago.

Kindly rate me 5 stars.