Thanks for your reply Alan. What started me thinking about the current joint ownership was, given our ages (82 me and 84 her), if we continue to make contributions to a taxable account should I consider setting up and funding an separate account in just my name at Vanguard with her as primary beneficiary with the thinking I will be the first to pass.
Fortunately our income somewhat exceeds our needs and funds are available for investment in a taxable account. We have increased our qualified charitable distribution (QCD) each year and will continue to do so thus taking advantage of a reduced AGI and taxable income. Our cash account is somewhat higher than normal, thus the consideration of a taxable account investment. Lastly, we are not in a common law state and Tennessee is coming to an end of its tax on dividends and capital gain distributions in two years. No income tax per se. Regards,