TOD and Per Stirpes
If I wish to pass my non-retirement assets with a TOD and one of the firms holding some of those assets does not allow a “Per Stirpes” designation for TOD for each of my (2) adult children, how can I insure that the children of one son who passes away would receive their father’s share of an inheritance if I likewise should pass away (like possibly in same auto accident) prior to changing the beneficiary designations?
Permalink Submitted by Alan - IRA critic on Wed, 2020-09-09 17:06
You can’t with the same custodian. Of course, upon the passing of any child, you could be sure to immediately update the TOD designation.