I was just thinking …
I have my nest egg currently in tIRA funds. I am 68 yo and retired. DW is 4 yrs younger and same with her savings. If we both suddenly pass away in a car crash how does the estate manage the tIRAs?
We have 5 children and our will has our assets to be divided equally among them.
Do the proceeds pass on as tIRAs? Do the tIRAs get liquidated and the funds divided up? If so, how does the taxes on that work?
Just curious …
I have my nest egg currently in tIRA funds. I am 68 yo and retired. DW is 4 yrs younger and same with her savings. If we both suddenly pass away in a car crash how does the estate manage the tIRAs?
We have 5 children and our will has our assets to be divided equally among them.
Do the proceeds pass on as tIRAs? Do the tIRAs get liquidated and the funds divided up? If so, how does the taxes on that work?
Just curious …