what happens to your 401k money (or other retiremnent$) if...

[vash]

.........you died and you forget to name a beneficiary? all out feeding frenzy amongst the "loved ones"?

or is there an automatic pecking order the money gets doled out by?

[jyl]

State law determines the order of priority, if you don't have a will/trust, which is called dying "intestate".

In community property states, the community property (CP) goes all to the spouse. A 401k fund and most pensions are CP, at least to the extent that the funds/pension were earned during the marriage. There are some categories retirement benefits that are not CP.

Separate property goes spouse, kids, and I don't remember who else, according to statute. Here is a summary of CA law:

Intestacy Chart

[sammyg2]

probate is a latin term meaning "the lawyers get it all".

[BlueSkyJaunte]

Why, my Uncle Thumper had a problem with HIS probate, and he had to take these big pills, and drink lots of water.

[KFC911]

Spoke to my attorney about this (related to an extended family member with whom I have a vested interest). I'm sure it varies by state but no, it doesn't go to the "state" if no designation, will, etc.

Spouse, kids, siblings, siblings kids, etc. (and on down the line in that order)

[recycled sixtie]

And don't forget to update the benificiary(eg. new wife) or else the old wife can benefit from your oversight.

[onewhippedpuppy]

I did some basic research on this for my grandmother when my grandfather died. In KS, all joint property goes directly to the spouse. Anything else goes into probate where it is divided 50% to the spouse and the other 50% split between their kids. Not sure what happens if there is no spouse or kids, that wasn't our situation. The best advice on the topic - if you really need the advice talk to an attorney that specializes in probate and estates. It's complicated stuff.

[jcommin]

Originally Posted by sammyg2

probate is a latin term meaning "the lawyers get it all".

+1