Do I add myself as a primarey beneficiary on an IRA?

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Do I add myself as a primarey beneficiary on an IRA?

Is the "primary beneficiary" of my IRA me, or is it the person who gets it if I die?

2007-03-02 13:09:52 · 3 answers · asked by heartscared 3 in Business & Finance ➔ Taxes ➔ United States

3 answers

The person who gets it when you pass away is the primary beneficiary.

You are the account owner and you can add contingent beneficiaries as well.

2007-03-02 13:16:04 · answer #1 · answered by Anonymous · 3⤊ 0⤋

You are automatically the beneficiary on the account. The only other beneficiary is there in case you die. If you don't die your payments come as scheduled.

2007-03-02 13:18:51 · answer #2 · answered by LORD Z 7 · 0⤊ 1⤋

It is someone who will get your money after you die.

2007-03-02 13:18:39 · answer #3 · answered by OC 7 · 0⤊ 0⤋