My husband died - what do I do with his 401(k)?

Answer by  fishlover49 (643)

Your husbands 401K is only yours if you are its legal beneficiary which would have been set up when the 401k was created. What you choose to do with the 401k is up to you. You can continue to let the investments grow or you can cash the 401k in.

Answer by  pansy (421)

if your husband died you should split it evenly how you feel need be you have some extra cash for the family.

Answer by  cgroverla (516)

If you are listed as the beneficiary of your deceased spouse's 401(k), find out what the distribution requirements are from the plan. Any distributions you take will be subject to income tax, but not a penalty. You can rollover the 401k into your own IRA, and the IRa distribution rules will then apply to you.

Answer by  chetan1987 (12)

I will use the money for funeral expenses and if left then will save it my bank for any future use. Will make something for my husband so that i can always remeber him by watching the thing i made for my husband. Will save the money for my chidrens better future.

Answer by  Sweetsnickles (19)

If your husband has no will specifically putting someone else in control of his assets. Then you would take control of all his finances. This would include his 401(k). You would have to cash it out and would not be able to continue to collect on it.