I need to know how to get my deceased brother retirement funds to pay off funeral costs?

Asked over 1 year ago - Chicago, IL

My brother passed without a will or power of attorney. He has a retirement fund in which we are trying to get to pay off funeral and storage fees. Do I need to set up estate account and what will be the costs, What about the IRS, other agencies that may be included in this process.

Attorney answers (3)

  1. Judith Anne Schening

    Contributor Level 14


    Lawyers agree

    Answered . If he had a valid beneficiary designation on the retirement account, those funds will be paid directly to the beneficiary and would not require opening an estate. If there is no beneficiary designation, then his estate will receive the funds. Start by getting that question answered first.

    If there are funds in the estate and it is less than $100,000, you may be able to settle the estate by using a small estate affidavit.

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps.... more
  2. Judy A. Goldstein

    Contributor Level 20


    Lawyers agree

    Answered . Too few facts are furnushed to answer you here. Please consu consult in person with a probate attorney.

  3. Paul A. Smolinski


    Contributor Level 17


    Lawyers agree

    Answered . If your brother had no beneficiary named, then it may or may not be necessary to open an estate to obtain the retirement funds. So the first thing that you need to do is advise the retirement people of his passing and ask whether an estate will need to be opened. Then, depending on what you find out, I would suggest that you consult with a local probate attorney.

    Good Luck!

    Legal Disclaimer: Paul A. Smolinski is licensed to practice law in the State of Illinois only, and as such, his... more

Related Topics

Estate planning

Estate planning refers to the process in which you decide and document what happens to your assets after you die, by making things like wills or trusts.

Estate planning and power of attorney

A power of attorney is a legal document giving another person the right to act on your behalf in various situations, within the limits set out by the document.

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