October 2021
Beginner
352 pages
8h 40m
English
Content preview from 401(k)s & IRAs For Dummies
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Chapter 3
Naming Beneficiaries and Planning for the Future
IN THIS CHAPTER
Choosing heirs for your IRA and 401(k)
Meeting deadlines and paying taxes
Leaving company stock
Getting to the five-year mark with Roths
Making donations
Benefiting from a beneficiary IRA
I want to say right up front that passing along money in your retirement account is complex stuff. I only cover the basics here. Please keep in mind that I’m not the one who created the rules; I’m just the one telling you about them.
Get a qualified tax advisor who has experience dealing with these issues to help you. I recommend either an accountant or tax attorney. A fee-for-service financial planner is another option. I don’t recommend a financial advisor who receives compensation from your investments because their opinions can be influenced by the compensation they receive. They also aren’t likely to be knowledgeable ...
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