New York
What is the difference between having a trust listed as the beneficiary of a annuity vs. individual person(s) names. From a tax perspective which method would reduce the amount of taxes paid by the beneficiary?
For example in the trust will, it lists person A,B,C as the beneficiaries.
Does it make any sense to list person A,B,C as the benficiaries of the annuities? The idea here is to reduce the taxes owed by the beneficiaries.
Please advise, thanks in advance.
What is the difference between having a trust listed as the beneficiary of a annuity vs. individual person(s) names. From a tax perspective which method would reduce the amount of taxes paid by the beneficiary?
For example in the trust will, it lists person A,B,C as the beneficiaries.
Does it make any sense to list person A,B,C as the benficiaries of the annuities? The idea here is to reduce the taxes owed by the beneficiaries.
Please advise, thanks in advance.