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

Discussion in '2010's Missing' started by liltexans, Mar 4, 2018.

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  1. Razz

    Razz Well-Known Member

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

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  2. ocgrad

    ocgrad Well-Known Member

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    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.
     
  3. SavetheQueen

    SavetheQueen Overachiever

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    Yes.


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  4. momrids6

    momrids6 JUSTICE FOR JENNIFER

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

    liltexans Moderator Staff Member Moderator

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

    ocgrad Well-Known Member

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    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.
     
  7. ocgrad

    ocgrad Well-Known Member

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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?
     
  8. liltexans

    liltexans Moderator Staff Member Moderator

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

    :tyou:
     
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