Inherited IRA Beneficiary and Estate Planning Considerations
In this video, Tim discusses Individual Retirement Accounts (IRAs) as well as inherited IRAs, beneficiaries of different account types, and some estate planning items to consider.
Hear from founder and president, Tim Doehrmann.
In this video, Tim discusses Individual Retirement Accounts (IRAs) as well as inherited IRAs, beneficiaries of different account types, and some estate planning items to consider.
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There are several nuances when it comes to inheriting the assets of an IRA. This depends on the relationship of the beneficiary to the IRA owner, whether the IRA was funded with pretax or after-tax money, and whether the account owner was required to take minimum distributions. I will touch on some of those nuances here as a guide of things to think about when it comes to planning your legacy. However, please consider talking to an estate attorney about your specific situation.
In this episode, I discuss estate planning, including why estate planning is important, common misconceptions about estate planning, and how to get started with estate planning.