Another thread about getting social security numbers

[iris lily]

So, we areseeti g up a bunch of contingent beneficiaries on our various retirement accounts, this on the advice of our attorney.

One of the beokerage accounts we have* is absolutely requiring that we provide Social Secuity numbers and tax ID's for our fozen conti gient beneficiaries.

This sucks SO MUCH because I have no intention of telling at least one person on our list of contingent beneficiaries that I need her SS number so that se can receive payout if I die.

So my options are
1) tell her, and then collect her SSnp as well as the numbers of all others

2) just make our Trust the c ti gient beneficiary

3) move tha money to a different brokerage accouny

I am not really asking question, but am reporting on this state of affairs.

[Catbert]

Unsolicited advice:. Change brokerages.

[Mother Fussbudget]

You might investigate setting up a Grantor Trust.  You use YOUR OWN social security number to setup such a trust.  Some set these up as a 'revocable living trusts' for probate avoidance.

Check with your bank/credit-union, attorney and/or tax person to get details on whether this would solve your needs. 

[Rocket]

My fidelity 401k required beneficiary's soc.  It wasn't a required field in the sense that I couldn't save without it though.  I decided to ask the person for her soc just to make sure that they could find her if I croak.

[Another Reader]

Can you leave her money or assets that are not in retirement accounts?

Having a trust be the beneficiary of a retirement account is a no-no.  Only people are allowed to receive their life table as the basis of RMD's.  Entities have to withdraw on the 5 year schedule IIRC.

[Paul der Krake]

Pretty sure it's a broker thing.

Vanguard let me put my brother as a contingent beneficiary, using just his name. He lives overseas and doesn't have an SSN.
Fidelity wouldn't let me do it.