Info on 401K and getting remarried

[David]

I just learned something about 401K's that I thought I'd pass on. By federal law 100% of your 401K goes to your spouse unless you have a signed and notarized form from your spouse stating otherwise.

Where this could be an issue is if you've saved in your 401K for many years, gotten divorced (and somehow managed to keep some of the 401K assets), decided to leave some of your 401K to your children and then remarry. Of course you have to die for this to be a problem but suppose you die a week after you get remarried.

[flatbutt]

My ex got all of mine in the divorce but that may not be apples to apples.

[svandamme]

Why bother marrying?

[vash]

why bother having kids?

[MBAtarga]

Our attorney (wills, POAs, trusts, medical directives) had some interesting stories he knew of where beneficiary's were never updated after an initial marriage and another example of after a divorce.

Many years ago, a young woman listed her sister as beneficiary (both young/single) when starting a teaching career. She got married, worked her 40+ years and then died. Her sister was still listed as beneficiary of her pension, and refused to provide the surviving spouse any share.

Another example, man marries, lists wife as beneficiary. A few years later, a divorce, a new marriage and two young boys born a few years later. Man dies a few years later. Ex-wife is notified of his death - told he had remarried and had 2 sons. She agrees to relinquish his 401k and insurance to the new wife and surviving sons even though legally did not have to.

[vash]

that is an amazing woman.

if my wife passes..she wants me to help her brother. i will.

[LakeCleElum]

I think some of these pension laws vary state to state....Best to keep it all updated.

I'm doing the "executor" thing for my mother's estate. She had accounts, IRA's, and pensions all over the place. Took me 3 months to track them all down and getting it split among the 5 children.

[Bob Kontak]

Keep it tight to one account/set of accounts. Do not roll another cent of new marital deferred income into this set of accounts.

May not be big news but once there is blending, it can get sticky.

[svandamme]

Originally Posted by vash

why bother having kids?

I didn't they put out to much CO and are a liability , if the little 5h1t is only half as much trouble as I was... I have better odds in the casino.