UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: PleaseAndThanks One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: Beneficiaries or estate Date: 7/25/2003 9:27 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Do people here usually give beneficiaries for their IRAs and taxable accounts? I have not so far, instead opting to divide my estate (small by most standards) into equal parts in a will. The only way I can figure out that beneficiaries would work is to have four beneficiaries on every one of six accounts. This is what Vanguard says:

Think twice before you leave your assets to your estate. Although designating your estate as your beneficiary--either purposely or by default--may seem like a simple way to distribute assets through your will, keep in mind that:
* Your heirs may lose additional opportunities to keep the assets tax-deferred, resulting in a smaller aggregate amount available to them.
* Your heirs may face higher annual income tax as more of the account's assets are subject to yearly distributions.
* Your retirement account assets will be subject to the same settlement costs that apply to your estate.
* Any retirement assets paid to your estate may be subject to state inheritance tax.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement