I have a TIAA retirement Fund and a Schwab IRA. Two Questions:
1. I have a charitable fund as a 50% beneficiary of both. I presume there will be no tax on these distributions?
2. If I leave the other 50% of both accounts to a Trust (for distribution) will the Trust be taxed upon receiving the money? Alternatively, if I leave this 50% to an individual (daughter), would she be able to take the money over 10 years to spread the tax liability?
Thank you,
Glenn Detrick
