Deceased's Pension in name of ex-wife?
My unpunctually father's allowance be made out to his ex-wife, who is presently remarried. Is this income still payable to her or does it revert to the estate? Thanks,
Answers:
It depends on the type of income. If it be a "defined benefit" type income (a monthly check your dad get until death) it is probable that the ex will bring back no benefit (and neither would the estate since the benefit would end at his death). If she be getting payments and presently dad have died, unless he have preferred a survivor substitute for the allowance, the benefit would call a halt near his departure.
If it be a "defined contribution" allowance, resembling a 401(k) or pooled depiction beside money he contributed during go, the expressions of the divorce bill would ultimately determine who be supposed to receive what's moved out surrounded by your dad's description at passing. The beneficiary designation for the story would be somehat determinative but the divorce bill might override that.
Went through this a few years ago...The ex will go and get the income..!
normally when a human being dies his income dies beside him unless he have be is agreed as survivor rights -- within that overnight case the ex wife will still receive the benefit -- sorry.!
This depends upon the rules of the allowance cook up. If your father be divorced when he died, typically no widows income would be compensated. If they be still married it could be remunerated to her. I would not expect a widows allowance to be compensated to an estate. If at hand isn't a widow, widows' benefits are not remunerated. You should check near the scheme administrator.
All info be correct at time of answering.
To find an IFA who can provide you next to further proposal on investing/tax/etc phone up 0800 085 3250 or walk to http://www.on the fence.co.uk.
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Answers:
It depends on the type of income. If it be a "defined benefit" type income (a monthly check your dad get until death) it is probable that the ex will bring back no benefit (and neither would the estate since the benefit would end at his death). If she be getting payments and presently dad have died, unless he have preferred a survivor substitute for the allowance, the benefit would call a halt near his departure.
If it be a "defined contribution" allowance, resembling a 401(k) or pooled depiction beside money he contributed during go, the expressions of the divorce bill would ultimately determine who be supposed to receive what's moved out surrounded by your dad's description at passing. The beneficiary designation for the story would be somehat determinative but the divorce bill might override that.
Went through this a few years ago...The ex will go and get the income..!
normally when a human being dies his income dies beside him unless he have be is agreed as survivor rights -- within that overnight case the ex wife will still receive the benefit -- sorry.!
This depends upon the rules of the allowance cook up. If your father be divorced when he died, typically no widows income would be compensated. If they be still married it could be remunerated to her. I would not expect a widows allowance to be compensated to an estate. If at hand isn't a widow, widows' benefits are not remunerated. You should check near the scheme administrator.
All info be correct at time of answering.
To find an IFA who can provide you next to further proposal on investing/tax/etc phone up 0800 085 3250 or walk to http://www.on the fence.co.uk.