When I leave my job…

Jun 21, 2018

When I leave my job, should I leave my retirement funds in my employer’s 401K or other plan? That is rarely a good idea. The better option may be to roll over your benefits in the employer’s plan to your own IRA. First, many employer plans will not permit you to leave the funds there. Even if they do, the payout provisions of the employer’s plan may cause your family to pay income taxes sooner than they would otherwise have to when you pass away. In addition, the available investment options in your employer’s plan may be far more restrictive than you could arrange in an IRA. You should discuss the options available to you with your estate planning attorney.

-Attorney Jack N. Alpern

Page Tools

  • Share this page SHARE
  • Print Friendly and PDF

Other Articles You May Find Useful

Can IRAs and other retirement funds be transferred into an Irrevocable Medicaid Asset Protection Trust?
How do I know if my family and I need Medicaid Planning?
What is the difference between Elderlaw and Medicaid Planning?
How much should Medicaid Planning cost my family?
Can a Roth IRA be transferred into an Irrevocable Medicaid Asset Protection Trust?
Do I Have to Transfer All of My Assets?

Leave a Reply

  • (will not be published)

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>