Summary
In Indiana, pension benefits typically transfer to the named beneficiary, often the spouse. After the spouses death, the funds are distributed according to the will or intestacy laws. If a pension continues to be paid after the beneficiarys death, the pension plan may seek to recover overpayments. Heirs are generally not personally liable for the deceaseds debts, which are paid from the estates assets. Consulting an estate attorney is advisable to clarify specific rights and responsibilities.Full Conversation
Pertaining to my parents pension
Hello ****, I understand you have questions about your parents' pension. Could you please provide more details? Are you looking to know about inheritance rights, or is it about the pension plan details?
I am the only child of my parents. My Father had a pension that went on to my Mother upon his passing.
Hello ****. In Indiana, the pension would usually transfer to the named beneficiary, often the spouse. After your mother's passing, the remaining funds might be distributed according to her will or intestacy laws if there's no will. Could you tell me if your mother left a will?
My Mother passed in *. I recently found out that the pension was never contacted. The electronic payments continued in her checking as well as electronic withdrawals from other companies. I contacted the pension plan and let them know of her death.
Hello ****, it's crucial to take the following steps in Indiana:
*. Contact your mother's bank to freeze her account.
*. Notify all companies making electronic withdrawals.
*. Consult an estate attorney for legal guidance on distribution of pension funds according to your mother's will or Indiana's intestacy laws.
The stated that a survivorship member would get back to me. I received a letter from them stating they would electronically attempt to withdrawal the money owed to them from her checking and if it wasn't enough they would come after me for the money. Can they do that?
In Indiana, heirs are typically not personally liable for a deceased person's debts. Debts are paid from the estate's assets. However, if the estate doesn't have enough assets, the debt may go unpaid. It's advisable to consult an attorney for your specific case.
There was no estate. She lived in an apartment. She did have a living will and everything went to me as the only child.
Hello ****, in Indiana, you're usually not liable for your parents' debts unless you're a co-signer. However, your inheritance might be reduced by the amount of debt. Also, please note that pension benefits might have different rules. It's advised to consult an estate attorney to clarify.
I know that the pension stopped at her time of death
Hello ****, if the pension stopped at her death, it generally means there's no remaining benefit to be inherited. However, the pension plan may attempt to recover overpayments. It's advisable to consult with an attorney to understand your rights and responsibilities in this situation.
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