Who Receives Your 401(k) If Your Primary Beneficiary Passes Away?

If your primary beneficiary predeceases you, your contingent beneficiary will inherit your 401(k) funds. This is vital for those with minor children, as you can designate a trusted adult or trustee to manage the funds until they reach a certain age. Consult an estate planning attorney to ensure your designations are correctly set up. #401k #ContingentBeneficiary #EstatePlanning #FinancialSecurity