What is the name of your state (only U.S. law)? California.
1st--i may have previously listed my question in the wrong Forum. Sorry.
The question was on funded IRA accounts with assigned beneficiary(s).
If/when I pass away, will the IRA funds pass through to my wife (1st beneficiary) and then on to my daughter (2nd beneficiary) without creating Estate taxes on the accounts?
Will there be inheritance taxes?
I have not listed the IRA accounts in my A-B trust with my wife, as I assumed that a T.O.D. was all that was required.
Thanks for your time.
1st--i may have previously listed my question in the wrong Forum. Sorry.
The question was on funded IRA accounts with assigned beneficiary(s).
If/when I pass away, will the IRA funds pass through to my wife (1st beneficiary) and then on to my daughter (2nd beneficiary) without creating Estate taxes on the accounts?
Will there be inheritance taxes?
I have not listed the IRA accounts in my A-B trust with my wife, as I assumed that a T.O.D. was all that was required.
Thanks for your time.