Guest newlifeca Posted February 28, 2003 Posted February 28, 2003 If I die, are the assets in my 403(B)(7) account taxable to my wife? What about to my children? Do they have to be cashed out, or can they be transfered into my wife's or children's name. Thanks
mbozek Posted February 28, 2003 Posted February 28, 2003 If you die your benefits will be taxed to the beneficiary who receives the payments. Your spouse can roll the funds tax free to her own IRA. See IRS publicaton 571 for details. mjb
david rigby Posted February 28, 2003 Posted February 28, 2003 Link to that Publication http://www.irs.gov/pub/irs-pdf/p571.pdf 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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