Contingent Beneficiary on qualified accounts (Trusts)

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
Posts: 310
Joined: Sun Aug 23, 2015 8:28 am

Contingent Beneficiary on qualified accounts (Trusts)

Post by WolfgangPauli » Wed Mar 13, 2019 10:33 pm


I worked with an attorney (FL) to create a family revocable trust. He wants me to put the trust in the contingent beneficiary of all qualified plans. So, primary is my spouse then the contingent is supposed to name, "Trustees of the trusts for descendants created under the xxxx Family Revocable Trust dated xx/xx/xxxx"

I know what he is doing here. Essentially, if there is a "doomsday" scenario where we both die at the same time (me and spouse), there immediately is a new trust established "trusts for descendents" and the assets go to that trust.

The problem is Vanguard system does not allow that many characters in the space.. they won't allow it. Anyone run into a situation like this and how did you handle it?
Twitter: @JAXbogleheads | EM:

Post Reply