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Can ownership of the Plan be transferred from one individual to another?

April 26, 2017individual ownership Plan transferred

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Can ownership of the Plan be transferred from one individual to another?

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A. Yes. An Account owner can re-assign ownership of his/her Account. When setting up an Account, it is recommended that the Account owner designate a contingent owner who can assume responsibility for the Account in the event the Account owner dies or is not legally competent to manage the Account.