(KY) My Father changed the beneficiary of his 401k to the Trust and then committed suicide a few days later.
My dad set up a trust which I assume he thought was more complete than it actually is. It only includes the house, contents and vehicles.
Everything else, bank accounts, investments etc wasn’t included.
A few days before he shot himself he had me help him change the beneficiary from myself to the trust. I’m the head of the trust with my 2 small children as successors.
My mother had just died days before so I wasn’t too concerned about the legalities of this action because I had no idea he was planning to kill himself.
My question is he was 77 taking mandatory distributions for 4 years I believe. I’m having a hard time finding exactly what the rules are I’m seeing some guidance saying because it’s a trust it has to be distributed within 5 years. Can I do any conversation of any type? I’m 57.
Any insight on this would be appreciated.