AMJ Financial Blog

Avoiding Non-Spouse Beneficiary Mistakes

As the beneficiary of an inherited IRA, you might be aware of some rules that come with these retirement accounts. However, are you also aware that the rules vary depending on whether you are a spouse, a nonspouse or a trust beneficiary?

From required distributions to even the titling of the account, understanding the differences based on the type of beneficiary is crucial to avoid paying unnecessary taxes and penalties on your inheritance. Mistakes are often irreversible, so making informed choices is essential when handling inherited IRAs.

Before you so much as retitle or move your inherited IRA, click here to read these quick tips to “Avoid NonSpouse Beneficiary Mistakes in 5 Easy Steps.”

For professional assistance understanding your options for an inherited IRA, contact our office at 703-466-0477 to schedule a time to discuss your questions.

 

Securities offered through Triad Advisors, LLC, Member FINRA/SIPC

Advisory Services offered through AMJ Financial Wealth Management LLC

AMJ Financial Wealth Management LLC is not affiliated with Triad Advisors LLC

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