I am 60 yrs of age, my brother is 50. An uncle recently passed away and named me the sole beneficiary of his 401K plan, valued at $500k, and life insurance, valued at $300k. I would like to split the proceeds evenly with my brother. How can I do that with the 401K? Will the money from the life insurance policy be taxable? Are insurance disbursements made as a whole, lump sum payment? To the extent possible, I would like to minimize my tax liability. Thank you.