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My dad passed away this last month. I was made benefactor of his 401k some years ago. Am I obligated to share that amount among my siblings or is that my money to do with as I please?
Optional Information: Country relating to Question: United States State (if USA): Kansas Already Tried: going on internet and looking up the laws relating to this problem
If you are the sole beneficiary of the 401k then it passes to you alone and there is no requirement under the law that the money be shared.If you would like any additional information or have more questions please don’t hesitate to ask but please do so my clicking on the Reply to Expert tab.We work for Positive Ratings, please click on one of the top three ratings or one of the Smile Faces, as this would be appreciated. We have recently implemented a new rating and feedback system. Please be aware that you are rating my courtesy and service as a professional, and not necessarily whether you like the information that you are receiving. Please bear in mind I can’t control what the law is and whether it helps you, I can only tell you what it says, and I assume you want truthful information.PLEASE DO NOT use the rating system to ask for more information or in an attempt to tell the website that you didn’t like the substance of the answer as it gives a NEGATIVE rating to me personally if your rating is one of the lower two.I believe in giving information that is to the point, but please remember that I can only base our answers on the information you provide and sometimes a misunderstanding as to what you are looking for or already know occurs so feel free to ask additional questions or for clarifications. Be very careful about looking at other internet sites that just post generic information without any inquiry into your facts because often those answers are dated, wrong, or wrong as applied to your facts. Please be aware that my answer is not legal advice, it is merely information. You should always contact a local attorney for legal advice.Several customers have asked how they direct a question to me in particular. If you specifically want me to provide information for you just put “FOR JD 1992” in the subject line and I will pick up the next time I am online.
Experience: Estate Law Expert