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Asked 7/12/2010

I will need to inquire about a 401 K plan that my mother owns.

I will need to inquire about a 401 K plan that my mother owns. The company is Alabama.

It looks at though I will need start spending down her assets as she will eventually will need to go on state assistance.
I don't know much about 401 Ks so I wondering if you can answer a couple of questions?

1. I will need to contact the company to see what kind of balance is actually in the account. Will I need to ask to close the account and send the remaining funds directly to her banking?

2. Does a 401 K allow monthly deposits depending on the requested amount, so the full amount isn't surrendered all at once?

 
 
 
 
 
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