401k and remarriage
09-14-2021 | 03:38 AM
#1
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Gets Weekends Off
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401k and remarriage
Just a heads up for those who might be thinking about a second or third or fourth marriage. Whoever you are married to at the time of your death gets your 401k regardless of who you have listed as beneficiaries or what your will or trust says. A new spouse can waive this but only after the date of marriage. Can’t be a prenup.
With so much of our retirement tied into the 401k this might surprise your kids or other family members when your 22 year old Ukrainian bride gets it all after you die on the honeymoon.
With so much of our retirement tied into the 401k this might surprise your kids or other family members when your 22 year old Ukrainian bride gets it all after you die on the honeymoon.
09-14-2021 | 04:03 AM
#3
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Gets Weekends Off
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09-14-2021 | 04:08 AM
#4
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Joined: Jun 2015
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Just a heads up for those who might be thinking about a second or third or fourth marriage. Whoever you are married to at the time of your death gets your 401k regardless of who you have listed as beneficiaries or what your will or trust says. A new spouse can waive this but only after the date of marriage. Can’t be a prenup.
With so much of our retirement tied into the 401k this might surprise your kids or other family members when your 22 year old Ukrainian bride gets it all after you die on the honeymoon.
With so much of our retirement tied into the 401k this might surprise your kids or other family members when your 22 year old Ukrainian bride gets it all after you die on the honeymoon.
09-14-2021 | 04:27 AM
#8
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Gets Weekends Off
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ERISA pension law and yes your 401K falls under ERISA.
If You Are Married
If you are married, federal law says your spouse* is automatically the beneficiary of your 401k or other pension plan, period. You should still fill out the beneficiary form with your spouse's name, for the record.
If you want to name a beneficiary who is someone other than your spouse, your spouse must sign a waiver. The waiver MUST be in writing.
For example, you might be separated from your spouse - not divorced - and want to name a new beneficiary. Even if your intended beneficiary is a domestic partner you've been with for 20 years, your spouse will have legal claim to your 401k if you die, unless he or she signs a waiver.
If You Are Married
If you are married, federal law says your spouse* is automatically the beneficiary of your 401k or other pension plan, period. You should still fill out the beneficiary form with your spouse's name, for the record.
If you want to name a beneficiary who is someone other than your spouse, your spouse must sign a waiver. The waiver MUST be in writing.
For example, you might be separated from your spouse - not divorced - and want to name a new beneficiary. Even if your intended beneficiary is a domestic partner you've been with for 20 years, your spouse will have legal claim to your 401k if you die, unless he or she signs a waiver.
09-14-2021 | 04:40 AM
#9
Gets Weekends Off
Joined: Jun 2015
Posts: 3,379
Likes: 75
ERISA pension law and yes your 401K falls under ERISA.
If You Are Married
If you are married, federal law says your spouse* is automatically the beneficiary of your 401k or other pension plan, period. You should still fill out the beneficiary form with your spouse's name, for the record.
If you want to name a beneficiary who is someone other than your spouse, your spouse must sign a waiver. The waiver MUST be in writing.
For example, you might be separated from your spouse - not divorced - and want to name a new beneficiary. Even if your intended beneficiary is a domestic partner you've been with for 20 years, your spouse will have legal claim to your 401k if you die, unless he or she signs a waiver.
If You Are Married
If you are married, federal law says your spouse* is automatically the beneficiary of your 401k or other pension plan, period. You should still fill out the beneficiary form with your spouse's name, for the record.
If you want to name a beneficiary who is someone other than your spouse, your spouse must sign a waiver. The waiver MUST be in writing.
For example, you might be separated from your spouse - not divorced - and want to name a new beneficiary. Even if your intended beneficiary is a domestic partner you've been with for 20 years, your spouse will have legal claim to your 401k if you die, unless he or she signs a waiver.
