AMJ Financial Blog

Estate Planning: Using Power of Attorney for an IRA

There may come a point in your life where you will need to select a loved one to make significant financial decisions on your behalf. This process is by no means easy, but in the event that you are unwilling or unable to manage your own finances, having someone assigned as a power of attorney (POA) can help make things easier down the road.

However, the process should not end once you’ve selected your attorney-in-fact.

There are many other considerations that should be addressed, including the POA policies and procedures for the financial institutions where your IRA or other retirement accounts are held. In some instances, an IRA custodian might demand submitting specific documents or meeting requirements before it honors your POA agreement.

Click here to download more information about how to properly set up a power of attorney for an IRA.

To learn more about proactive estate planning measures for your retirement, contact our office at 703-466-0477.

Securities offered through Triad Advisors, Inc Member FINRA/SIPC

Advisory Services offered through AMJ Financial Wealth Management LLC

AMJ Financial Wealth Management LLC is not affiliated with Triad Advisors, Inc.

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