Succession
3 articles
What is a successor trustee or manager?
A successor trustee or successor manager is the person you designate to step in and administer your plan's entity when you die or become incapacitated. This is an administrative role, not an inheritance role. The two are entirely separate. How the ...
What happens to an IRA plan when I die?
When you die, your IRA and the entity it owns, the LLC or trust, pass to your designated beneficiaries. The process involves two parallel tracks: administering the entity and transferring the IRA itself. Both need to happen in sequence. The entity ...
What happens to a Solo 401(k) plan when I die?
When you die, your Solo 401(k) plan passes to your designated beneficiaries according to the beneficiary designation form in your plan records. Unlike an IRA plan, the Solo 401(k) has no custodian to manage this process. Administration and transfer ...