Reply To: Taxable Investment Account Jointly Owner

Home Fairmark Forum Retirement Savings and Benefits Taxable Investment Account Jointly Owner Reply To: Taxable Investment Account Jointly Owner


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,
Tom D