Assuming there is no spouse, what are some pros/cons for designating the owner/annuitant as the beneficiary?
For simplicity, assume there is no intent to annuitize, and the will is well constructed and will be uncontested (so getting assets to intended recipient is not a concern).
Some quick thoughts:
Con - goes through probate Neutral - could be taxed at higher/lower rate (depending on whether the owner's bracket is higher or lower than the intended beneficiary's) Neutral - included in estate either way (for estate tax purposes)
Thanks, Mark Freeland snipped-for-privacy@sbcglobal.net