What happens to retirement benefits in an intestate succession?

In Maryland, when someone dies without a will (intestate) the laws of intestate succession control what happens to the deceased’s assets, including retirement benefits. Assets like bank accounts, investments, and real estate will first be distributed to the surviving spouse or domestic partner if the deceased was married. If the deceased was unmarried, the assets will be distributed to the deceased’s children and other direct relatives (including but not limited to siblings, parents, and grandparents). Retirement benefits like 401(k)s, IRAs, and other pensions are distributed under intestate succession in the same way as other assets. If there is a surviving spouse, the benefits usually go to the spouse. If the deceased was unmarried, the retirement benefits will be distributed to the deceased’s biological or adopted children. If the deceased has no children, then the benefits will be distributed according to who is next in line in the intestate succession hierarchy. When it comes to distributing retirement benefits in an intestate succession, it is important to note that not all retirement benefits are treated equally. Some benefits, like veterans’ pensions, may have special rules and may not follow the normal intestate succession laws. It is important to consult a qualified attorney to determine who is entitled to the deceased’s retirement benefits in an intestate succession in Maryland.

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What happens to retirement benefits in an intestate succession?

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