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    kasey11's Avatar
    kasey11 Posts: 1, Reputation: 1
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    #1

    Jun 6, 2011, 05:32 PM
    Can anyone but me cash out my 401k ?
    Can anyone other tan myself cash out my 401k?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jun 6, 2011, 05:48 PM

    Who else is named in it, Where are you located,
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Jun 6, 2011, 06:54 PM

    A 401(k) is held in the name of the employee. While a beneficiary might be named, the only way the beneficiary could get any money from the plan is if you die or there is a court order distributing the plan.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #4

    Jun 7, 2011, 07:48 AM

    To expand on what ScottGem said - an example of such a court order would be a Qualified Domestic Relations Order (QDRO) which the court may issue in divorce proceedings, so that the ex-spouse receives some of the 401(k) assets. It's also possible for the IRS to place a lien against your 401(k), but it's pretty rare.

    It would also be possible if you have granted Power of Attorney to someone for that person to take a withdrawal on your behalf.
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