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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who started this subject2/3/2001 2:17:00 PM
From: J. C. Dithers   of 65232
 
Know you can leave your brokerage account to a Beneficiary?

Weekend stuff-- I have just learned about this. It seems that you can designate a beneficiary in a brokerage account, and your assets will pass to that person without going through probate. Pretty much just like a life insurance policy works. I found this out on the Fidelity site, and I don't know whether all brokerages provide for this, but I don't see why not. I haven't a clue as to any other legal ramifications of doing this, but it seems pretty straightforward. I ran this by folks on one of the SI tax threads, and they seem to confirm that is indeed the case. I realize that you have to die to take advantage of this ... but it seems a small price to pay.

In case anyone is interested, you can learn more on Fidelity's site (you don't have to have an account there to call it up). Further instructions will come up on this post of mine:

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