Message Font: Serif | Sans-Serif
No. of Recommendations: 1
Yes, all of the accounts, even the rollover IRA, were set up and aptly named TOD and the beneficiary's names.

I hope your memory's faulty, because if someone somehow managed to set up an account that way it would likely work to the disadvantage of the beneficiaries.

Once again passive voice is driving me crazy. Are we talking about a real situation or a hypothetical? Also, are we talking about income tax or estate tax? I thought at first you were talking about estate tax, but your last post makes me think income tax.

If this is a real situation and you have access to the account papers go look at them. There should be no hint of "TOD" in the title of an IRA. If there is, you need to fix it.

Rule Your Retirement Home Fool
Print the post  


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.