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    Oct 2006
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    Default Re: Sister Died Without a Will. My Brother is Designated As Beneficiary of Her Pensio

    Quote Quoting skaler
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    My question involves estate proceedings in the state of: Illinois
    She made him joint account holder of her banking account, and designated him as beneficiary of her employees' pension plan as well as a 401K account.
    My brother just received a letter from the pension plan stating that "the retirement request cannot be processed because the returned paper work was incomplete."
    The Benefits Administrator included a payment election form, a rollover form, and a proof of estate form, specifying in each case that he use a Estate's EIN in place of her social security number.
    My questions:does an estate automatically exist, or will he have to establish one? Is this necessary?
    I am hoping that he can avoid having to fight with any creditors for the proceeds, go through the expense of hiring a lawyer, etc.
    Yes, an estate has to be opened, and legally any creditors must be paid from anything that did not have a designated beneficiary. Anything that had a designated beneficiary passes outside the estate, so I do not understand why the benefits administrator is asking for an EIN number. If you give them the EIN number then the check will be written to the estate rather than the beneficiary, which would be improper. Its the beneficiary's SSN that should be included on the form, not the estate's EIN.

    Of course, if for some reason the retirement account never had a beneficiary listed on it, then the money would have to go to the estate.

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