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Personal Finance (Not Investing) • Beneficiaries of IRAs: different designations?

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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.
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).

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



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