|
|
| *Ostroff, Fair and Company>>>Credit |
Hiya, if someone dies does a monthly pension payment to their wife form part of the deceaseds estate? |
also if there is a small pension lump sum payment is this part of their estate too? Thanks It depends on the terms of the pension. If there is a will concerning the pension, it will be classed as estate. If not, there will be fixed terms whereby the surviving spouse and any children under 18 may have a claim to it but it will not be classed as estate. The pension company will have this on record. It is usual to cash it in a lump sum after tax and the company will need supporting documents before doing this. It may also be possible to cash an amount and to leave some as a future pension for the wife. Contact the company first and if there are any doubts on the claim, seek legal advice. Source(s): Been there, seen it, done it. No. It is the wife's property, not the deceased's. It shouldn't do. That would be part of the wife's estate if or when she dies. Yes but only if it is a private pension fund, and not a state pension. One organization requires you to return the decease's social security is one of them. www.social security.gov. Hopeful your decease's pension isn't one of them. I would say not. The pension payment is made to the deceaseds wife only as long as she is alive. Once she dies, the payments cease. The lump sum payment may be considered part of the estate, that is a question for an estate attorney. |
| Tags |
| Investing Insurance Credit Corporations Other - Careers & Employment Technology |
Finance Categories--Copyright/IP Policy--Contact Webmaster |