IRA/Vanguard non-spouse benificary, clarifications required.

Greetings,

This is the situation of my friend – whose husband has recently passed away with cancer.
Before marriage the husband had given names of the father, mother and brother as beneficiaries for his vanguard account. The names of the benificiary has (most probably) remined like that since their marriage. Now it has been nearly about 15 years in good faith in marriage when the husband passed away after a struggling with cancer for more than 7 years. My friends the wife attended to husband faithfully and served him till his last breath, if now left at the care of friends without a roof on the head. I am trying see if she can helped in a legal way if possible.

Its very unfortunate that the husband did not change the vanguard benificiary in the name of the wife when he was well, though
she took care of him during his last days. The spouse is not educated enough to understand the intricacies and its quite unfortunate that the brother and father how are determined to settle only for the complete claim of all the savings and not part anything with the widoed women.

Is there any possibility that the spouse can still get the claim the savings, though she was not added as a benificiary ? If so what needs to be done and whom should she contact ?

I am helpless and quite old myself without much knowledge about these matters. But I want to morally support her and atleast to provide her with the right direction and contacts. I would like to make sure she is in right hands and receives justice in this matter. If you can care by prviding valuable suggestions, I did really appreciate.

Thanks for any suggestions offered.
Cathy



The answer depends heavily on state law. Which state did he live in?



They lived in MD and TX. Please explain how the state they lived could matter. But what is the solution, is their a way to override the beneficiary names given to the vanguard / IRA rollover ? Also can she request a freeze of the vanguard/IRA accounts if she goes to the court and until they are given a court order ? Another thing is that the brother and the father are staying in Philippines and not citizens in US.



The state of residence matters because if they are not community property states then the odds of being able to do anything in this matter are very small.



If they lived in Texas when he passed, she should consult with a TX estate attorney. If the income was earned in MD or another common law state, then TX law with respect to “quasi” community property might provide some relief. Vanguard may also be helpful and they might well inquire about a spouse and might possibly also freeze the account until the various interests are resolved.

All of these are just possibilities. If she is in TX, she should consult with an estate attorney there.



Add new comment

Log in or register to post comments