I'm sure they would be more than willing not to pay you but really why would you want to refuse it. If you have to receive it you could just bank it or donate it to a worthy cause.
In most cases the pension will override. It is a private contract that is independent of what the will says.
Sure. The beneficiary will be responsible for any taxes due on pension payments.
Yes and the distributions from the pension plan will be taxed to the beneficiary in the same way that they would have been taxed to the deceased.
Can you collect pension money after my brother commited suicide
Can I change the beneficiaries of my private pension from my husband to my two sons
no
Yes this might be possible.
In some cases, a survivor retirement pension beneficiary may lose their benefits if they remarry, particularly if the pension is based on the deceased spouse's earnings. It's important to check the specific pension plan's rules regarding remarrying to understand how it may affect the benefits.
Only if the beneficiary to the plan is the estate. If the beneficiary is a person and not the estate, the asset passes to the person. It may still be subject to the decedent's debts, however, unless it is exempt such as in Texas. Of course, the bank would have to know about it to pursue collection.
If a pension plan participant passes away without naming a beneficiary, the plan assets will typically be distributed according to the plan document. This could vary, but in many cases, the assets may go to the participant's estate or to their surviving spouse or next of kin. It's important to review the specific terms of the pension plan to understand how it handles situations where no beneficiary is named.
Yes, a beneficiary can refuse or disclaim an inheritance. By doing so, the inheritance would typically pass to the next beneficiary in line as specified in the will or according to state laws of intestacy. It's important to follow proper legal procedures when disclaiming an inheritance.
That is the reason you open an estate! The probate process will resolve the ownership under the laws of intestacy.