Home  >  Financial Questions and Answers  >  When I pass will my child receive my 401k?

When I pass will my child receive my 401k?

Aug 29, 2012 by johnnie from Chicago, IL
2 Answers   |  2 Followers
Follow Question
3 votes

If you leave your child as your beneficiary, then yes for certain. Check with the HR Department of your employer to view your current beneficiaries and update them if necessary. You may also be able to do this online with your plan provider.

Comment   |   Share This Answer   |  Report   |  Aug 29, 2012 from Boston, MA

1|600 characters needed characters left
2 votes

If you are currently married, the spouse will receive the proceeds, unless they have signed a spousal consent form giving up their entitled benefit.

I would like to encourage you to seek the advice of an attorney and accountant to make sure that your estate is directed to the beneficiaries of your intentions. They will encourage you to look at all beneficiary forms, such as life insurance and retirement accounts, and update provisions in your will.

David G Niggel

http://www.keywealthpartners.com

Comment   |   Share This Answer   |  Report   |  Sep 05, 2012 from Lititz, PA

1|600 characters needed characters left