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Foster Family Asked About 'Frequently Asked Questions on QueryCAT: Can I designate my minor children as contingent beneficaries of my 401(k) Plan :: Frequently Asked Questions'

Minor Children as beneficiaries

What are the issues with naming my minor children as contingent beneficiaries of my 401(k) Plan?

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fatherof5children
fatherof5children Answered:

I'm not actually sure of any "issues" that may arise. I would suggest sitting down with your personal accountant or lawyer or at least the person in your place of employment who is in charge of 401 (k) plans and going over the benefits/setbacks to naming your minor children contingent beneficiaries. Good luck.

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