IRA or 40l(k) — beneficiary
Which is better to have in case I pass before my wife? An IRA or a 401K? Does either one provide more debtor protection or wealth test for end of life care.
Terry Says
In some states a 40l(k) plan provides more debtor protection, but this is a moot point. Once you die, if you named your spouse as IRA beneficiary, it would automatically roll into an inherited IRA.
I think you need some estate planning to make some decisions — not only about titling your accounts but for the big picture.
Maybe start with a fee-only FIDUCIARY financial advisor (someone who is NOT selling stuff) — try this link.
And then separately an attorney to make a Revocable Living Trust or will — Search here: https://search-attorneys.com/
