what happens to a brokerage account if primary beneficiary is deceased and there are no contingent beneficiaries My uncle recently died and we are sorting through his estate. Each and every account he had has been in a different state. It’s overwhelming! Anyway, he has no spouse, never been married and no children. My dad and my aunt are the only living siblings. My uncle who recently died lived with my dad. My uncle had a $200k brokerage account where t…

My MIL just got named a 50% beneficiary in her neighbor’s, neighbor’s will. Bear with me. MIL(65) lives in a single home with her husband(60). Husband owns that home outright. Their neighbor on the left (Bob) is just Bob. He’s 60-something, keeps to himself, likes his garden. Bob lives alone. They are friendly with Bob. Bob has a neighbor on his left, Mary. Mary is mid80s. She’s still with it, somewhat getting around bu…

529 beneficiary change I’m planning to setup a 529 with myself as a beneficiary and change the beneficiary to my child after 16 years. Is this allowed without penalty? Can I have 2 beneficiaries(both children) for the same 529 at the same time? Will the change of beneficiary result in any taxable events? I’m new to this and would appreciate any help. submit…

Can i get away with listing my GF as a beneficiary or do i have to make out a will? I want to leave my very LT GF (never got married for reasons) the bulk of my assets. I own no property (i rent) or objects of worth. I have a IRA/401K and regular accounts. My siblings are very generous and comfortable financially and we are very close. They will not contest anything as long as they know its what i want. Can i simply add my GF…

Making My Revocable Living Trust the Beneficiary of my eTrade Accounts (IRA, Roth, and Taxable Accounts) Is this advisable? I read conflicting information about tax implications now and required minimum distributions later. Should I just list the successor trustees as the beneficiaries of these accounts instead? I’m trying to make things as easy for them as possible administratively. Thanks in advance. submitted by /u/BestChickEver …

“Early” beneficiary IRA RMD to offset medical expenses My dad passed away earlier this year, having satisfied his IRA RMD for 2024. I’m the beneficiary of the IRA now, and know I have to start taking my RMDs starting next year. i had a lot of health issues this year, so my medical expenses are significantly higher. If I take my first beneficiary RMD in 2024, will the medical deductions (I itemize) h…

Grandfather (70) wants to add me (24) as his beneficiary, I know nothing of life insurance. I suppose he’s signed up for AAA life insurance at a level 5 (of which I don’t know the significance of) and he wants to add me as sole beneficiary. I don’t know how any of that work and though I can ask him I would also like more perspectives on this topic. What happens to me if I signed his paper as beneficiary? submitted by /u/foxbe…

Irrevocable trust: grantor, trustee and beneficiary I would like better understand how to establish irrevocable trust and assign trustees and beneficiaries. If I’m a grantor who transfer property or set of assets to the trust, can I put myself into such trust as trustee or beneficiary along with other family members? Can someone clarify how this work? submitted by /u/vkuznet

Insurance Beneficiary, Unknown Company. Advice Wanted on Tracking Policy My mom passed away from terminal illness early this year. In 2022, she discussed with me that she had a life insurance policy and that I was her sole beneficiary, and the value of the policy was $25k. She said she paid $12/month for it, even though she had no income at the time. She told me she wanted the money to be used to pay for her crematio…

Grandpa put me as beneficiary on the deed. He passed away and he has an open mortgage. I’m lost on what to do I’m 22 years old and my wife and I have 2 kids. The house is perfect size. He passed away about a month and a half ago and I found out I couldn’t just continue to make payments that I would have to assume the mortgage. I lived with my grandpa the majority of my life and this is my childhood home. I don’t know if I can qual…

Beneficiary IRA vs credit card debt -33 years old, married, no kids, renter in CA Bay Area -$77k annual income (before taxes) -$40k in Roth IRA (not contributing right now) -$4k in 401k (contributing $150/mo with employer matching) -$1000 in emergency fund. No other liquid cash savings. -Approx $3200 in monthly expenses (rent, utilities, car payment, gas, groceries, etc) -$400 bu…

Forcing Biden Out Would Have Only One Beneficiary: Trump Instead of clearing the way for victory, liberals may well be paving the way for defeat.

Father had JPM IRA, mother was beneficiary but she is deceased My mother died a little while back and soon after that, my dad had a stroke and we were never able to get the paperwork through to JPMorgan to update the beneficiaries on his IRA to me and my two sisters. He died in May. I’ve talked to JP Morgan a couple times, and gotten conflicting information about how the IRA will be distributed. They asked …

Father’s death, no beneficiary. Hello, my father is recently deceased and he had an IRA with Edward Jones. I was on one account as a beneficiary along side my step mother, this other account has no beneficiary. He passed in Florida, which I do not live in. How are my step mother and I able to retrieve the funds as there is no beneficiary on the account? Hope someone has some i…

Should I have a beneficiary on all of my bank accounts? I saw a video about this and heard from my mom how it’s a safety in case something happens to someone. Of course you never want to think of death as a young person, but am I better off assigning beneficiaries in each of my accounts right now? Is there any downside to me doing this, and does it hurt me at all? I’m not sure exactly how it works, a…

What to do as the beneficiary of a 35k 401k My mother passed away and I am one of the beneficiaries of her 401k, my split is around $35,000. What is the smartest/ most tax advantaged move to make with it? I don’t currently have a 401k of my own, but am going to be starting a new job this month that matches up to 3% of my contribution. I do have a Roth IRA through Fidelity with about $16…

Father died left me as life insurance beneficiary. So background info. My stepmother and I are the only people my dad left when he died. He never trusted anyone when it came to money. My stepmother wasn’t the nicest growing up. She has no children of her own, and I am an only child to my dad. She is very immature and has enablers in her corner. We have a huge rift between our relationship. I bur…

Treasury Direct – Beneficiary for Treasury Bills What is the best way for husband and wife to share ownership of Treasury Bill account since the account can only be in one name ? Name a beneficiary on the bills ? OR move to HYSA (Marcus or Ally) where joint accounts are OK but you make less interest. submitted by /u/will_the_circle

Father asking for my social security number to make me a beneficiary for his pension Just wanting to check if this is a thing. My dad just retired last Friday and this morning asked me for my social and birth date (always gets me and my brother confused) to be added as a beneficiary to his pension. Does this sound legit? I’m always cautious when someone needs my social submitted by /u/JaJaDingDong95

Buying extra life insurance for myself, and making my best friend with a disabled husband, the beneficiary My best friend’s husband had a devastating stroke. She was already home on disability. Money is tight for them to say the least. It is open enrollment at my job. I already have enough life insurance and disability insurance, etc. for me and my family. But I can add on an extra life insurance policy for $40 a month that would pay her, as my benef…