Who to Name As Beneficiaries

[hukre]

My question involves estate proceedings in the state of: New York

Years ago when I opened my IRA I registered as Beneficiaries my son at 50% and his wife at 50%.
Would it be better to list my son and his wife as Joint Tenants as the Beneficiaries?

[flyingron]

The answer is you can't. You can have as many beneficiaries as you would like, but they're all individuals.

I presume you do not presently have a spouse.

[hukre]

Thank you for your answer. Your assumption is correct, no spouse anymore.

[llworking]

Thank you for your answer. Your assumption is correct, no spouse anymore.

You might want to consider having just your son as the beneficiary, rather than including his wife. If they divorce down the road or something else happens that makes it maybe inappropriate for his wife to inherit half you might not get a chance to change it.

[pg1067]

Would it be better to list my son and his wife as Joint Tenants as the Beneficiaries?

I'm not sure I really understand the question. The only time the beneficiary designation will come into play is after you're dead, so it really shouldn't matter to you. Why not ask your son and his wife what they prefer?