I would like add that sometimes leaving a large 401k balance like 200,000K to 17 year old child could have unintended consequences. If the child receives the payment as lump sum, the child would have no chance of receiving
Most mortgage underwriters want the money in your account for at least 2 months under your name. They would not want the money to transfer to your name 2 days before closing. Please work with an experienced mortgage broker.
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. Do you still receive statements or know how to contacts these entities?
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