What Happens To My Tiaa Cref When I Die, When planning for the future, it is important to consider what will happen to your assets and, General, what-happens-to-my-tiaa-cref-when-i-die, JPOSE
When planning for the future, it is important to consider what will happen to your assets and investments after you pass away. If you have a TIAA-CREF account, you may be wondering what happens to it when you die.
TIAA-CREF is a financial services company that provides retirement plans and other investment options to individuals in the academic, medical, cultural, and research fields. When you open a TIAA-CREF account, you can choose beneficiaries who will receive the funds in your account after you die.
If you pass away before you have started taking distributions from your TIAA-CREF account, your beneficiaries will receive the full value of your account. They can choose to receive the funds in a lump sum or in installments over a period of time.
If you have started taking distributions from your account, your beneficiaries will continue to receive the payments according to the schedule you established. If you selected a joint and survivor annuity option, your spouse or other designated beneficiary will continue to receive payments for the rest of their life.
It is important to regularly review your beneficiary designations to ensure they reflect your current wishes. If you do not have a designated beneficiary, or if your beneficiary predeceases you, the funds in your TIAA-CREF account will be distributed according to your estate plan or the laws of your state.
In addition to beneficiary designations, there are other estate planning strategies that can help ensure your TIAA-CREF account is distributed according to your wishes. These may include setting up a trust or establishing a will.
It is important to work with a qualified financial advisor and estate planning attorney to ensure your wishes are properly documented and your assets are distributed according to your wishes. By taking the time to plan for the future, you can have peace of mind knowing that your loved ones will be taken care of after you're gone.