My sister died and left her 401(k) to me. I could really use the cash — but should I just leave it to grow?

Group 1 - The article discusses the emotional and financial challenges faced by individuals managing inherited 401(k) plans after the loss of a loved one [1][2] - It highlights the importance of designating beneficiaries for 401(k) accounts to avoid complications during probate, which can be lengthy and costly [3][4] - The article notes that over 40% of U.S. adults live without a spouse or partner, emphasizing the need for clear beneficiary designations as part of estate planning [5] Group 2 - Non-spouse beneficiaries, like Liam, typically have the option to transfer the inherited 401(k) into an inherited IRA, with a requirement to withdraw the full balance within 10 years under current IRS rules [5] - All distributions from inherited 401(k) accounts are subject to income tax, which is a critical consideration for beneficiaries [5] - Eligible Designated Beneficiaries (EDBs) can take required minimum distributions (RMDs) over their life expectancy, providing more flexibility compared to the standard 10-year withdrawal rule [6]