Other answer:
Karen:
of course
there are no tax implications until the disbursement is made of whatever it is the beneficiary receives, and in some instances it might not be taxable at all
of course
there are no tax implications until the disbursement is made of whatever it is the beneficiary receives, and in some instances it might not be taxable at all
Stoo:
Yes, but when you pass, your son might be quite pissed and could challenge the will. It's always best to document what you do and why. It's bad form to not tell your son what's going on here.
Yes, but when you pass, your son might be quite pissed and could challenge the will. It's always best to document what you do and why. It's bad form to not tell your son what's going on here.
Pascal the Gambler:
Yes
Yes
marys.momma:
A lot depends on federal, state, and local laws. You'll want to consult an attorney specializing in tax matters, and perhaps an accountant also.
A lot depends on federal, state, and local laws. You'll want to consult an attorney specializing in tax matters, and perhaps an accountant also.
Judy:
yes, changing beneficiaries has no tax implications.
yes, changing beneficiaries has no tax implications.
