Disinherited by Vanguard

[teejayevans]

FYI:
Become a member!
TJ

 

[justin]

Umm.... summary of the article for those not wanting to register?

 

[LOL!]

I'm gonna guess this is the vanguard deal that one should have the same beneficiary on all your funds within a single Vanguard IRA. It's been discussed at length on the diehards site. Bottom line: double check your beneficiary designation on your vanguard accounts.

 

[teejayevans]

Umm.... summary of the article for those not wanting to register?

you don't need to register (I didn't register anyhow, but maybe I'm special ),
that's how the title came up and I don't know how to change it, did you
try to click on it?
TJ

 

[Spanky]

Here is the message:

Dear Flagship Client:

Your nonretirement Vanguard accounts held within a Transfer on Death (TOD) Plan (formerly known as the Directed Beneficiary Plan) will soon begin to use a convenient, single-beneficiary designation standard. This change will help you to consolidate your record keeping and make it easier for you to track your beneficiary designations.

Starting in mid-September, one beneficiary (or one beneficiary for one group of beneficiaries) will apply to all the funds within that account-as well as for any funds that you may add to the account in the future.

Our records indicate that you have one or more funds in an existing TOD Plan account that do not list beneficiary information. Under the policy change described above, the beneficiary designation you’ve named for the other funds in that account will apply to these funds as well.

Review your beneficiary designations regularly

You can check your current beneficiary designation anytime on Vanguard.com. If you approve of the beneficiary designation that will be listed for all funds in your account, you don’t have to do a thing. We’ll send you a confirmation of your TOD Plan account beneficiaries in September. If you want to change your designation, please complete a new TOD form, which you can download form the “Forms” area in the top menu of our website. Or contact us to request the form by mail.

Remember that it’s always wise to review your beneficiary records regularly to help ensure that your assets are distributed according to your wishes.

For questions about the change in beneficiary policy, call 800-345-1344 Monday through Friday from 8 a.m. to 10 p.m., or Saturday from 9 a.m. to 4 p.m., Eastern time.

Sincerely,

Joanne T. Dollarton
Principal
Vanguard Flagship Services

 

[Nords]

Vanguard Service:
"You can't get what you want, but you won't find anyone cheaper!!"

A big part of the Dee Dee Havens complaint (FundAlarm - Highlights & Commentary Archive) was Vanguard's mishandling of beneficiary designations. Hopefully that's changed for the better...

 

[FinanceDude]

I hate to bring up an old thread, but today I attended a 2-hour presentation done by Ed Slott, and he told me Vanguard still has not changed their policy, so it's "buyer beware".........

Public service message: Check your Vanguard accounts for the CORRECT beneficiary choices YOU want, it's your right.......