Many investors have multiple people and/or entities named as beneficiaries of their IRAs. The benefit of this allows the IRA owner to spread the wealth without having to maintain a separate account for each beneficiary. This advantage is not without its challenges though. Separating the assets between the beneficiaries can be problematic if not handled properly and promptly.
Click on the link below to read Planning For Multiple Beneficiaries in 5 Easy Steps.
July's theme is Beneficiaries and we want to encourage you to review your beneficiary information this month. It would benefit you to take the time to contact our office or your financial advisor to review your beneficiaries and make any updates or changes needed. You want to do all that you can to avoid a Pension Pickle*.
*You can read about the Pension Pickle in the July 7, 2022 blog on our website.
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David S Dixon, CFP®