Two of the times when people need to address and move swiftly regarding their retirement accounts are usually during the times of greatest stress. Those times are either during a job loss (or other employment transition) and after the death of a loved one. Unfortunately, both situations usually force the owner (or recipient) of the qualified retirement plan to “roll over” the account and its assets in order to bypass unintended tax consequences for that given year.
Most people just rollover their accounts into an IRA and then deal with it later, after the job loss status is remedied or until they heal from the grieving over the loss of the loved one. If possible, however, by taking a few minutes to speak with qualified professionals during that 60 day window the owner/recipient of that account may have more flexibility and options than he/she realizes.
Unfortunately a lot of people make mistakes with their 401k accounts, such as what you may find here. Take a few moments and talk with a qualified financial services professional about preventing these mistakes, what new choices you have (based on your current situation and likely situation in the next few years), and – if possible – also understand the ramifications on your taxes. Here is an example of a professional who understands taxes and 401k rollovers in McKinney Texas. Professionals like him can see both sides (the investment and the tax) and how you can craft a game plan suited for you and any loved ones you want to benefit.