St. Patrick's Day
SALE

St. Patrick's Day
SALE

20% OFF sitewide*

Promo Code:
LUCKY20

SHOP NOW

Can I control who inherits my 401(k) money after my spouse dies?

Need Professional Help? Talk to an Estate Planning Attorney.

There was a problem with the submission. Please refresh the page and try again
Full Name is required
Email is required
Please add a valid Email
Phone Number is required
Please add a valid Phone Number
Zip Code is required
Please add a valid Zip Code
Description is required
By clicking "Find a Lawyer", you agree to the Martindale-Nolo Texting Terms. Martindale-Nolo and up to 5 participating attorneys may contact you on the number you provided for marketing purposes, discuss available services, etc. Messages may be sent using pre-recorded messages, auto-dialer or other automated technology. You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.

You should not send any sensitive or confidential information through this site. Any information sent through this site does not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law firm you are contacting is not required to, and may choose not to, accept you as a client. The Internet is not necessarily secure and emails sent through this site could be intercepted or read by third parties.

Question

My husband and I each have adult children by other marriages. My spouse is the beneficiary of my 401(k). But when he dies, I would like what's left of that money to go to my child. How do I handle that?

Answer

You cannot control your 401(k) funds from beyond the grave. When you name your husband as beneficiary of your retirement plan, the plan will belong to him when you die -- and he can do with it whatever he wants. You can emphasize to him that you want the remainder to go to your child when he dies, but he is not bound by your wishes.

To have the remainder of your 401(k) go to your child after your husband's death -- assuming you die first -- you'd have to do something a little more complex, such as name a trust as beneficiary of your 401(k). Your trust would specify that while your husband is alive, he could have access to the income and perhaps some of the principal of the assets of the trust, but after your husband's death, the remainder would go to your child.

The trust does not own the 401(k) plan, but whenever money is taken out of it, the money goes into the trust and then is distributed to beneficiaries as dictated by the terms of the trust.

There are also disadvantages to naming a trust as beneficiary of your 401(k). You might want to sit down with an expert, such as an estate planning attorney who is also familiar with retirement plan rules, and sort out all the pros and cons before making a final decision.

Get Professional Help
Talk to an Estate Planning attorney.
There was a problem with the submission. Please refresh the page and try again
Full Name is required
Email is required
Please add a valid Email
Phone Number is required
Please add a valid Phone Number
Zip Code is required
Please add a valid Zip Code
Description is required
By clicking "Find a Lawyer", you agree to the Martindale-Nolo Texting Terms. Martindale-Nolo and up to 5 participating attorneys may contact you on the number you provided for marketing purposes, discuss available services, etc. Messages may be sent using pre-recorded messages, auto-dialer or other automated technology. You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.

You should not send any sensitive or confidential information through this site. Any information sent through this site does not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law firm you are contacting is not required to, and may choose not to, accept you as a client. The Internet is not necessarily secure and emails sent through this site could be intercepted or read by third parties.

How It Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you