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Vanguard Requires Same Beneficiaries for All IRAs
- October 12th, 2007
If you have more than one Vanguard IRA account, beware that you may need to change the beneficiary designation on one or more of your accounts. If you don't take action, Vanguard may change it for you.
According to an article in Forbes, in July, Vanguard sent a letter to all account holders, informing them that it was requiring identical beneficiaries for all IRA accounts. If a customer does not contact Vanguard, it will apply the newest beneficiary designation to all accounts. Identical beneficiaries are required for all IRAs holding money rolled over from employer pension plans, traditional IRAs, and Roth IRAs.
Be sure to check your Vanguard accounts to make sure your beneficiary designations are the way you want them. If something is not right, contact Vanguard right away.
For more information, click here.
Local Elder Law Attorneys in Ashburn, VA
Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...