Avoiding Costly Mistakes as a Spousal Beneficiary скачать в хорошем качестве

Avoiding Costly Mistakes as a Spousal Beneficiary

If you're married, there will come a time when you or your spouse must navigate the difficult reality of losing a loved one and making critical financial decisions. One of the most common and costly mistakes surviving spouses make is mishandling an inherited IRA. With the IRS 2024 Required Minimum Distribution (RMD) regulation updates, it's more important than ever to understand your options and avoid financial missteps that could result in unnecessary taxes, penalties, or restricted access to your savings. So, what should you do if you inherit an IRA from your spouse? Here are five key steps to take: First, split the inherited account if necessary. If you are the sole beneficiary of the IRA, you can take advantage of special spousal provisions. If other beneficiaries are named, you must transfer your portion into a separate account by December 31 of the year following your spouse's passing to preserve these benefits. Second, consider keeping the account as an inherited IRA. If your spouse had not started taking RMDs, you can defer distributions until the year they would have turned 73. Keeping the accounts as an inherited IRA allows you to take distributions using the Uniform Lifetime Table, potentially lowering your tax burden. Third, you may want to transfer the inherited IRA into your own name. If you're a younger surviving spouse, keeping the account as an inherited IRA may make sense until you reach age 59½ to avoid penalties. However, after that, rolling the funds into your own IRA allows you to stretch distributions over your own life expectancy, which is often the most tax-efficient strategy. Fourth, don't forget to name new beneficiaries. Many surviving spouses overlook this, and if no new beneficiaries are named, the assets could end up in probate or be distributed in a less tax-efficient way. Ensuring you name beneficiaries protects your heirs from unnecessary legal complications. Fifth, consider a disclaimer. In some cases, disclaiming all or part of the inherited IRA can be beneficial. This allows assets to pass to contingent beneficiaries—such as children—without increasing your tax liability. It's an option that should be carefully evaluated with a financial professional. We've created a free guide, "Avoiding Spousal Beneficiary Mistakes in 5 Easy Steps" that you can download below this video. This will help walk you through these steps to make informed financial decisions. https://rfgwealthadvisory.com/wp-cont... Making the right decisions with an inherited IRA can protect your wealth and ensure your family's financial stability. The wrong decision could lead to: ✅ Unnecessary taxes and penalties ✅ Lost opportunities for tax-deferred growth ✅ Complications for your heirs At RFG Wealth Advisory in Argyle, Texas, we help surviving spouses make the best financial decisions for their financial future. We are an independent Registered Investment Advisor who always put our client's interests first. We have a transparent fee structure that's easy to understand. Call RFG Wealth Advisory today to discuss your inherited IRA options. 940-464-4104 Financial success doesn't happen by chance—let's plan for your future today. Our RFG Blueprint Process: https://relayto.com/susan-dawson/rfg-... Investment advice is offered through RFG Wealth Advisory, a Registered Investment Advisor. #independentfinancialadvisor, #registeredinvestmentadvisor, #Texasfinancialadvisor,