Surrogate López Torres ESTATE OF SOL ADLER, Deceased (16-1372/A) — This is an uncontested miscellaneous proceeding brought by Deborah Adler (the petitioner), as the limited administrator in the estate of Sol Adler (the decedent) seeking a determination of the estate’s interest in a retirement plan obtained through the decedent’s employer, the 92nd Street Y, f/k/a The Young Men’s and Women’s Hebrew Association (92nd Street Y), and held by UBS Financial Services, Inc. (UBS) on behalf of the decedent. Jurisdiction was obtained over all necessary parties: no appearances were made nor were objections filed. UBS maintains a retirement plan on behalf of the decedent in the name 92nd St. YM-YWHA, Inc., Welfare Plan, Attn: Sol Adler (the account), which is subject to the Employee Retirement Income Security Act of 1974 (ERISA). The petitioner asserts that (1) both UBS and the 92nd Street Y are unable to locate any information regarding the designation of a beneficiary by the decedent in the ERISA account, and (2) the petitioner, who is the surviving spouse of the decedent, did not execute a waiver of her interest in the ERISA account prior to the decedent’s death. The petitioner also asserts that despite a demand for release of the funds in the ERISA account, neither USB nor the 92nd Street Y have released the funds to her individually or as administrator of the decedent’s estate. Since, the petitioner is the default beneficiary of the ERISA account, the decedent’s estate has no interest in said account. The petitioner is entitled to collect the entirety of the net proceeds, plus interest, therein upon the decedent’s death. 29 USCA 1055; Matter of Greenwold, 236 AD2d 400 (2d Dep’t. 1997). Accordingly, the petition is granted. Dated: November 15, 2019
