k man
Aug 1 2005, 09:57 AM
do you think it is appropriate to required the parent/guardian of a minor beneficiary to open an UGMA account in order to receive the distribution from a401(k)? the plan allows for this but it also says you can just make the check payable tot he minor?
If it doesn't cause any harm to the minor, I think it's ok.
If the plan permits options, how can you arbitrarily "require" one over the other? What if the guardian objects?