Ifmy father receives a pension check and he passes away, does the remainder go to his beneficaries or to pay off his debts?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Ifmy father receives a pension check and he passes away, does the remainder go to his beneficaries or to pay off his debts?
Asked on July 17, 2011 under Estate Planning, Kentucky
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Depending on how your father's pension is written, his beneficiary would get benefits for a while but the frequency and length will depend on the plan. As to debts, it is usually shielded from most debts except for things like back alimony and back child support. If you are considering changing beneficiaries, think about talking to your father, have him review his plan(s) and see what his options are. If the pension is part of a bigger estate, and you are considering a trust, some items like pensions do fall outside of the trust estate.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.