ROBS 401k Program Question Answered – What happens to my ROBS 401K business when I die?


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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/

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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