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Best way to designate a beneficiary so as to divide among several charities?


Chippy

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I have a participant that passed away last year.    His spouse passed away a few years earlier.    His wishes are for his full account balance to be divided up between charities.     What is the best way to fulfill his last wishes?   Can this be paid to the estate and then paid to the charities through the estate?   

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Is there a valid beneficiary designation?  If not, what does the plan say about how to determine the beneficiary?

BTW, what type of plan is this?

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Assuming the plan allows for designation of charities as beneficiaries, the money must be paid to the charities in accordance with the designation.  The Plan cannot pay it to anyone else.

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  • Dave Baker changed the title to Best way to designate a beneficiary so as to divide among several charities?

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