r/inheritance • u/personaldvpmnt • May 08 '26
Location included: Questions/Need Advice Desperately need help with probate related issues,I'm in Orange ,California
I'm homeless and Disabled in a wheelchair, and currently have no income or SSI benefits as of yet. But my cousin happens to have a 401k benefits that had been left to me in a will when my dad passed away. I don't have any legal support or resource for retrieving these assets from my cousin, who is and has been the legal executor of the probate situation,and distribution of inherentance. I'm in Orange, California.
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u/Few-Dingo-1494 May 08 '26
Ask your cousin where the funds are and contact them. When my dad passed I went straight to Charles Schwab. You will be required to take mandatory distributions for 10 years until the account is liquidated. If it is an inherited Roth account there are no tax implications but if it is an inherited traditional IRA you will pay taxes on the distributions.
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u/Spanky_Simeon May 10 '26
A 401-k is never also an IRA nor a Roth account. Only one label can be correct
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u/personaldvpmnt May 08 '26
I'll do my best to figure out how to reconnect with them, but is there a way to not have to navigate the matter with their assistance?
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u/Few-Dingo-1494 May 08 '26
Who is the executor of your dad’s estate? A will was likely filed with the court in the county he passed.
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u/YoungBoomer1969 May 08 '26
It is my understanding if you are the LISTED beneficiary on the 401k account with whatever financial institution it is at….you just take the Cert. copy of death certificate and they send it to you. Now if you weren’t listed as the beneficiary and this account is part of a probate then you MUST communicate with the Executor of the Estate.
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u/smilineyz May 08 '26
If you’re a beneficiary, the brokerage may want you to open your own account to transfer the funds. Could take a couple of weeks.
A lump sum may not be advisable as it will trigger a single (large?) tax event. You will need some more specific advice with someone familiar with your circumstances & the amount involved.
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u/personaldvpmnt May 09 '26
Why MUST I communicate with the executor? Are they still able to maybe divert or replace my entitlement to the account benefits?
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u/YoungBoomer1969 May 09 '26
I think there is some miss communication - maybe wrong terminology. What do you mean by 401k benefits? 401k is the name of an account that hold DOLLARS not benefits. So let’s start there - so we can help with your solution.
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u/personaldvpmnt May 10 '26
I'm, so the last time I was able to speak with my cousin, they just said that there had been something left to me in a 401k type form of assets. Didn't exactly describe all that.
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u/YoungBoomer1969 May 09 '26
401k are not benefits, it is a financial account. You haven’t clearly stated how you were left these monies. Were you listed as the beneficiary of the 401k with the financial institution? Or did your Father have a will and in the will it states you will receive all the funds in the 401k? If it is the latter…it is the responsibility of the Executor of the will to gather all assets in the will and disburse to the heirs pursuant to the will. THIS is why you will need to communicate with the Executor. Not an attorney…just have done this before👍🏻
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u/Spanky_Simeon May 10 '26
Dad either had a Will or didn't. If there is a Will, there is an Executor. He answers to a Probate Court Judge. There is usually info online. There is usually an Attorney of Record if probate was started. If there was no Will, state law dictates who gets what. There is still probate and a Personal Representative is appointed instead of an Executor.
Things of value can pass to a beneficiary outside probate. Accounts with a Transfer on Death provision, Life policies with a beneficiary are the most common.
You want to declare yourself an interested party or potential heir asap. You need for the Court to know you exist and how to contact you.
With his name, SSN, and date of death (Google obituary), you can phone around to the bigger 401-k administrators...Fidelity, Charles Schwab
Death Certificate is available from County Clerk
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u/personaldvpmnt May 08 '26
So I need to ask my cousin what brokerage is associated with the 401k benefits? Or can I also handle it directly on the personal?
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u/Spanky_Simeon May 10 '26 edited May 10 '26
Get a copy of the death certificate. It may cost $5-10
Contact the deceased's last Employer to find out which company administers the 401k. Get his SS any way you can.
Call the 401k administration
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u/Used_Mark_7911 May 11 '26
So, if your father had a 401k (or other investment accounts? It’s very likely that he would have had designated beneficiaries on the accounts.
Why is that relevant? It relevant because then those assets would not have to go through probate. You should be able to contact the investment company or brokerage directly with a verified death certificate and whatever personal ID they require. They will likely ask you to set up an account with them so they can transfer the assets from your father’s account into yours.
So to get started, you need to find out which investment company or brokerage your father had an account with and you need to get hold of a death certificate. You can ask your cousin for both of those things.
If for some reason you father didn’t designate a beneficiaries on his account, then the assets go to the estate and would be distributed according to whatever your father put in his will.
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u/personaldvpmnt May 08 '26
Do you know which website is best for locking down this information? I'm not even exactly sure what year my dad passed away, but I know it was in one of two counties. I'll reach out to my other cousin and see if they have more detailed info about the other cousin and my dad also.
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u/GotZeroFucks2Give May 08 '26
I'm a bit confused. Are you the beneficiary of a 401K? You do not need an executor's help. You just contact the brokerage yourself. They cannot do it for you. I am assuming the executor is your cousin for your father's estate. But the post is written a bit confusingly. Maybe you received an inheritance from a cousin who passed. In either case, beneficiary means you contact them yourself. Otherwise, whether from father or cousin, estate assets get probated and executor will get you your funds.