QUESTION

How can my brother get the money transferred to me so I can roll it over and my husband who is 60 has a 401K?

Asked on Apr 09th, 2015 on Estate Planning - New Mexico
More details to this question:
My mother recently passed away and she had a $10,000 death benefit with TRS (Teacher Retirement System). My brother was named the beneficiary. I paid for the funeral out of my own personal money with the understanding that when my brother received the death benefit, he would pay me back. We found out that because neither one of us are 59 1/2 that we will be penalized if we do not roll it over. Can we somehow put this money in his account so we won’t be penalized as much?
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1 ANSWER

Beneficiary designations cannot be changed posthumously
Answered on Apr 13th, 2015 at 12:37 PM

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