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A 403 deferred benefit vested. Is there a certain age that you have to take this out?

On my SS Potential Private Retirement Benefit Info. has my maiden name on it. I am married for 5yrs with my husband 28 before his passing in Jan. Does this mean these monies are for me or could there be beneficiaries such as His Son, or Daughter. Why would I get this if it was not for me. If it was for his Children they would contact them I would think or not. Let me know as we do not speak at all to them. I don't know if I have to contact them if they are the beneficiary or who does. Hopefully it is not them

Apr 07, 2016 by Donna in  |  Flag
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Chris Schiffer Level 14

Donna, Condolences e on your loss. You can find out if you were the beneficiary by contacting the plan administrator. If he didn't designate a beneficiary, his Will will determine who receives the assets. Do you know if he had a will? If so who is designated the executor (the person handling the estate)? If there is no will, depending on the state you reside, state law determines who receives distributions from the estate. Most states treat spouses favorably in distribution in cases where there is no Will.

If you would like to discuss the details of your case privately, please contact me at cschiffer@aepg.com or via phone at 908-821-9764.

Comment   |  Flag   |  Apr 09, 2016 from BASKING RIDGE, NJ

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Donna - First of all, my condolences for your loss. Secondly, good for you in looking for some guidance because beneficiary designations and money or inheritances can be extremely cumbersome.

I'll be honest with you, your situation has a lot of unknown variables and you would be better served to have a conversation with someone over the phone or someone local in person.

My recommendation would be to find a "Fee-Only" advisor, one that is associated with NAPFA, The National Association of Personal Financial Advisors, and have an introductory call with one of them.

Most, if not all NAPFA members have free introductory calls to see how they can serve you.

Here is their site where you can "Find an Advisor" that would be local for you.

http://findanadvisor.napfa.org/Home.aspx

Here is another resource:

www.xyplanningnetwork.com

These advisors are all NAPFA members but something unique, is that they all have their profiles, bios, and prices for their services there as well so you can evaluate who may work for you best.

Good luck and I hope this helps.

Corey

Comment   |  Flag   |  Apr 07, 2016 from St Paul, MN

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