It doesn’t matter what your revocable trust says. Your IRA will go in accordance with your beneficiary designation form (or the rider to it).How does naming beneficiaries for my IRAs work when a percentage will go to a beneficiary's spendthrift trust but the rest will go directly to individuals? Do financial institutions like TIAA, Vanguard, Fidelity etc. allow this kind of designation? My living trust currently say that 40% of my estate will go to the trustee of my son's trust, and 40% to my daughter and 20% to my nephew. If it matters, my son is 39, my daughter is 31, and my nephew is 28. Thank you.
If you want, you could leave your IRA 40% to the trustees of your son’s trust, 40% to (or, preferably, in trust for) your daughter, and 20% to (or in trust for) your nephew, or in whatever way you want. Of course, you would have to provide for contingencies (in other words, if one of them predeceases you).
Statistics: Posted by bsteiner — Wed Aug 21, 2024 6:39 pm — Replies 3 — Views 199