How to Correctly Name Beneficiaries for Your IRAs

May 31, 2013

You could be unintentionally reducing your family’s wealth potential if you do not properly designate the beneficiaries of your IRAs. Improper estate planning could mean that your IRA assets could pass to the wrong people or entities, so how you execute your beneficiary designations is critically important.

Here are some of the steps that need to be taken to properly name IRA beneficiaries:

Spouse: A surviving spouse can either roll the funds into his or her existing IRA or establish an inherited IRA and take distributions that will be calculated based on his or her life expectancy.


Leave a Reply

SUBSCRIBE TO OUR NEWSLETTER