Adding Minors as Beneficiaries via Custodian to IRAs

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CarolusP
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Joined: Wed Jul 08, 2020 7:40 pm

Adding Minors as Beneficiaries via Custodian to IRAs

Post by CarolusP »

Does anyone know how to add a minor as a beneficiary through a custodian on my Vanguard IRA's? The beneficiary options in Vanguard don't list a specific option for listing the custodian's name. The verbiage my estate planning lawyer gave me for designating my minor children as beneficiaries was "<custodian name> as custodian for <child's name> under the Minnesota Uniform Transfers to Minors Act." Can I just select the option to name an individual as beneficiary, then type this entire verbiage into the name field? Has anyone gone through this with Vanguard?
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