What will happen if fidelity account beneficiary is NOT in US / stays in India. How to ensure money goes to them, last I heard Fidelity wants a SSN / US tax payer ID to disperse assets to beneficiary. TC 250k
Get a living trust done. Can be hard for Foreign/Indian citizens to immediately access those funds.
Beneficiaries take precedence over who you name in the trust. There is a famous case about this where a person married twice and had x-wife listed as beneficiary and current wife listed in the trust. X-wife walked away with all the money. Living trust is the biggest scam in the market. You don’t need one unless you have a very complicated family and asset situation.
Put someone in US . They will transfer money to India .
Don’t trust that they will do
Don’t die yet
Not true. You can add foreign beneficiaries. They just need to verify their identity (passport) and provide your death certificate to receive the funds.
The fine print says they have to open a fidelity account for asset transfer. Opening a fidelity account requires US tax payer ID, no?
For asset transfer yes. For cash transfer no.