Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Please guide us in selecting beneficiary designation for our retirement plans including ira's and life insurance proceeds. My wife & I would like our children and grand children to inherit our left over retirement savings (whatever we do not use up in our life time). Do we need to include their one parent as trustee in the designation? Would it be tax-wise strategy on our part to name minors and/or their parents as beneficiaries instead of our spouses? Can beneficiaries other than spouses like a living trust roll over proceeds to the ira's? Is living trust designation the proper way as an estate planning? Would it be a correct designation: My daughter/son/living trust as trustee for our grandchildren or my wife/husband trustee for a young son? I believe our children/grand children can spread over pay off over their life times or roll over if allowed by rules.
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.