Bank won't release my father's 401k to me. I am his only child
If a 401(k) or other account does not have a named beneficiary, the account passes to the decedent's estate upon his death and it must go through some form of probate to transfer the assets to the person or persons who should receive them. Contact a probate attorney, many of whom offer free initial consultations, to discuss the probate process and learn the options for your specific situation.
My comments are not intended to establish an attorney-client relationship, are not confidential, and are not intended to constitute legal advice. Proper legal advice can only be given by an attorney who agrees to represent you, who reviews the facts of your specific case, who does not have a conflict of interest preventing the representation, and who is licensed as an attorney in the state where the law applies.
If there is no beneficiary listed on the account then the account and any other assets in your father's name alone will have to go through some version of probate. Banks and other financial institutions will simply not dealw ith you until you are named as the petitioner or personal representative of your father's estate and there is a court order stating this signed by the probate judge. If there is a Will, the assets will be distributed according to that or a Trust, if neither exists, then the assets will be distributed in acordance with Florida Intestate Statutes (without a Will), this generally means to the surviving spouse and or children. You are going to need to speak with a Florida Probate Attorney and they can help you and help you determine the type of probate that will be necessary based on all of the assets that would go through probate. Your starting point, a Florida Probate Attorney. I am sorry for your loss on the passing of your father, please accept my condolences and sympathy for you and your family at this difficult time.
I agree with my colleagues. I suggest that you consult with and retain a probate attorney to assist you with this matter. Most AVVO attorneys offer a free initial consultation. Call one of us today. Good luck.
B. Elaine Jones, Esq.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline