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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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Aug 20th, 2008, 10:01 PM
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#1 |
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My husband's 401k
My husband told me that his 401k was set up to go to the next of kin if he dies. Does next of kin mean the wife or wife and children?
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Aug 31st, 2008, 06:46 AM
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#2 |
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Junior Member
Last Online:
Sep 5th, 2008 03:25 PM Join Date: Aug 2008
Posts: 1
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Re: My husband's 401k
I'm not a lawyer .. But I ran into a 401k problem with a trust.
If the 401k is inherited by a beneficiary, it becomes an immediate payout with all taxes due, probably in a higher tax bracket. My 401K is setup with my wife being the spousal owner... not beneficiary. If I precede her in death .. she carry's on with the 401k setup as it is now as the owner .. no payout. Last edited by noyb : Aug 31st, 2008 at 06:48 AM. |
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