Found Deceased TX - Michael Chambers, 70, Hunt County, 10 March 2017 #5

[Razz]

I believe it must already be in her name. She can do a lot of things with it, take a lump sum, or have monthly distribution or large regular payments or let it ride so as not to be suspicious and continue to behave like a person having financial difficulties a while longer.

What if...MC reappeared alive and well?
What would happen to his half of the drop then?

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[ocgrad]

No worries! I won’t get mad .

I suppose it’s possible MC asked the pension board rep something like, “I’m worried about a friend. He has been talking about disappearing or committing suicide. What would happen to his benefits if he did that?”

Possible, but not probable, IMO.

As far as changing the will, perhaps he was disappeared before he had the chance to. Maybe he threatened to do that, as well as to file for a divorce, and this put something into motion very quickly.

Is BC afraid whomever she might have hired might come after, too? If you are going to plan a murder, that’s a risk you have to take, IMO.

I'm not 100% sure but I think to keep your spouse from getting your DROP she has to sign a notarized statement. Perhaps in rolling it to an IRA you can set it up some way to assign a different beneficiary. Maybe something he planned to do on Monday morning. I know you don't have to have a will for your spouse to get your DROP.

 

[SavetheQueen]

Someone can correct me if I’m wrong, but doesn’t she only have to wait 2 years to cash in his half?

Yes.


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[momrids6]

I don't believe MC is alive. I think he is in the lake, but not by his own hand. Not sure whose tho! I just think if he had committed suicide he would have made it where his body was found. JMO

Yep. If he had taken his DL for ID later, he wouldn't put himself in a lake imo....

 

[liltexans]

I'm working on a new thread. This one will close in about 10 minutes.

 

[ocgrad]

I'm not 100% sure but I think to keep your spouse from getting your DROP she has to sign a notarized statement. Perhaps in rolling it to an IRA you can set it up some way to assign a different beneficiary. Maybe something he planned to do on Monday morning. I know you don't have to have a will for your spouse to get your DROP.

Sorry to quote my own post but i just saw that you do have to have a notarized statement signed by your spouse to change your beneficiary. I'm not sure how it might work if you take the full amount and move it to another account that you bequeath to someone else.

 

[ocgrad]

What if...MC reappeared alive and well?
What would happen to his half of the drop then?

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I think if it were still in the account nothing, it would still be his. But if she had taken the lump sum and spent it I don't know what recourse he would have. I will see if I can find an answer to that. It must be similar to what would happen to a 401K. What would happen for insurance paid?

 

[liltexans]

This thread is closed. Please continue the discussion in Thread #6.

:tyou: