IRA beneficiary
I have a client who is single and has her daughter on an annuity as the beneficiary 100%.
She called and wanted to change to the granddaughter, cause she said she needs it more.
If she changes it to the granddaugher, does the granddaughter lose any benefits or the stretch options or taxed more because the IRA skipped a generation?
Thanks for any help.
Doug
Permalink Submitted by Wayne Sexton on Fri, 2007-12-07 03:31
No, no, and no to your question
Permalink Submitted by Al Fry on Fri, 2007-12-07 19:03
Generation-Skipping Taxes could apply, unless owner has not yet used her $2M exemption.