What to do if my family would like to divide all of my deceased brother’s assets and accounts evenly?
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What to do if my family would like to divide all of my deceased brother’s assets and accounts evenly?
He had beneficiaries on his 401k. There was no Will. Can we do a deed of family arrangement to change the distribution of the 401k?
Asked on June 30, 2014 under Estate Planning, Tennessee
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
Under the laws of all states in this country the people who are named as beneficiaries under your deceased brother's 401 k get that asset. However, of all beneficiaries under his estate agree to a distibution, then such an agreement can be submitted in the intestacy proceedings and it can control regardless as to what your state's intestacy statutes may state.
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