The designated beneficiary need not be specified by name to be a designated beneficiary so long as that beneficiary is identifiable under the terms of the IRA as of the determination date. 2 For ...

Under the general rule for individuals dying on or after January 1, 2020, beneficiaries of a trust may be treated as having been designated as beneficiaries of the employee under a qualified plan (or ...

A variety of financial accounts, including retirement plans and life insurance, allow individuals to designate beneficiaries. Whoever is named on a beneficiary designation form will receive those ...

Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. Beneficiary designations are one of the major gaps in many retirement ...

When it comes to financial planning, many people assume that certain strategies or tools are only for the wealthy. However, one crucial element that everyone, regardless of income level, should review ...

When I meet with clients to discuss estate planning, I always explain that the documentation that we help put together for them does not override any previously designated beneficiaries on things like ...

Beneficiaries of IRAs and other tax-deferred retirement accounts must take required minimum distributions. The class in which a beneficiary falls determines the RMD rules that apply to them. One of ...

On July 19, 2024, the Internal Revenue Service released its long-awaited final regulations on required minimum distributions for individual retirement accounts and employer plans. Two of the key rules ...

The IRS’ interpretation of the 10-year clean-out rule on inherited IRAs can be complicated.

Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial ...

Understand the SECURE Act's 10-year rule for inherited IRAs. Learn if you need to take annual RMDs and how the rules differ for IRAs inherited after 2019.

Transfer on Death (“TOD”), also known as Payable on Death (“POD”), account registrations are a popular way to avoid the requirement to pass assets through probate upon death and operate as an ...