Designating an IRA beneficiary is a critical component of comprehensive estate planning. There’s no standard one-size-fits-all approach, and making the wrong choice can be costly.
Whether your clients select an individual, trust, or charity as a beneficiary, it’s important that their designations are in line with their overall financial goals and wishes. Our guide outlines the major considerations for helping your clients choose wisely, including:
- Tax consequences and estate rules
- Minimum distribution requirements
- Contingent beneficiaries