Return to the Household Finances Forum | Post a Follow-Up

Separate IRAs with different beneficiaries

Posted by jkom51 (My Page) on
Sat, Aug 25, 07 at 3:44

Some folks who have multiple children/grandchildren prefer to have separate IRAs with a different beneficiary listed on each. I just read in my latest Forbes magazine that Vanguard has changed its policy and DOES NOT allow this any longer. In fact, they are receiving criticism because if you change the beneficiary on one IRA but not any others at their company, they will unilaterally change all your beneficiary designations on your IRAs to match, even without your consent.

Apparently T. Rowe Price also has a policy of not allowing different beneficiary designations on separate IRAs held at their firm. No other major brokerages have this policy.

Obviously, this doesn't apply to most people, but I thought it was a little-known fact that might prove useful to some in their estate planning.

Follow-Up Postings:

RE: Separate IRAs with different beneficiaries

A solution would be to have the accounts at different financial institutions.

 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!

Return to the Household Finances Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.

Learn more about in-text links on this page here