Gifting 401k
I have and attorney client that says he can gift his 401k to his grand children . Do you agree if so what are the steps to accomplish this .
I have and attorney client that says he can gift his 401k to his grand children . Do you agree if so what are the steps to accomplish this .
Permalink Submitted by Alan - IRA critic on Fri, 2017-02-24 17:15
He can name them as beneficiary (after any spouse waives their interest), but he cannot gift the plan while he is still living. He must be referring to the grandchildren inheriting the account, not receiving a lifetime gift.