Reply to Retirement Account in One Spouse's Name

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Reply to "Retirement Account in One Spouse's Name - OK?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am a Fed and so have access to the Thrift Savings Plan. So far our retirement savings have been going mostly into the Thirft Savings Plan (lower cost), but of course that puts the retirement investments mostly in my name.

Obviously this means we are not maxing out retirement potential (arguably that's a mistake). But that factor aside, is it important to make sure there are retirement assets in DH's name? Or would he easily inherit the same pot of money if I die in a car crash? I've been assuming that all would be fine, but I'm not sure that I fully understand the implications.[/quote]

I am pretty sure the TSP will not release a married account holder's funds to anyone other than the account holder's spouse.  Go poke around the TSP website.  [/quote]

It will go to the assigned beneficiary.  Not sure about the TSP, but typically if the assigned beneficiary is someone other than a spouse, you need a notarized form from the spouse that states they are aware they are not the beneficiary.  [/quote]

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