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RayAnswers, Attorney
Category: Estate Law
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Experience:  Texas lawyer for 30 years in Estate law
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I am the beneficiary of my best friends 401k. He had other

Customer Question

I am the beneficiary of my best friends 401k. He had other assets put in a trust for his estranged daughter. Am I required to put the 401k funds into the daughters trust?
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.

Hi and welcome to JA. Ray here to help you tonight.I am so sorry for the loss of your friend.I know how hard that can be.

You have no such obligation, these are your funds by contract.Legally you can keep them or do with them what you choose here under Illinois law.They are not required to be put in the trust.This is your money here free and clear.You may decide to keep them as they are yours here.

I appreciate the chance to help you tonight.Thanks again.

Expert:  RayAnswers replied 1 year ago.

If you can positive rate it is always sincerely appreciated.