Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
ROBS 401K FAQ: I am considering using a ROBS 401k Business Financing plan to finance the purchase of a laundromat. What happens to the shares I own via the ROBS 401K when I die? What happens to the shares that I own personally?
Response:
As part of the ROBS 401k establishment process, we will provide a beneficiary election form where you can designate what happens to the 401k plan assets when you pass away. The distribution of your personal assets (including the shares that you own personally) will be governed by your own personal estate plan.
To learn more about the ROBS 401k process: https://www.mysolo401k.net/401k-business-financing/401k-small-business-financing-process/
