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The next generation will eventually inherit your IRA. How you prepare your accounts and beneficiaries today will impact the inheritance they will receive.
In this episode, Royal Standley discusses the changes to IRA inheritance. He recounts how the SECURE Act changed IRA inheritance depending on the beneficiary’s age and relation to the deceased. Royal discusses how the IRA will be taxed after you are gone and the differences between a single beneficiary and a charity foundation being named beneficiary.
- Why the government changed IRA inheritance
- How your relationship to the deceased impacts your inheritance
- What you will be taxed depending on when you withdraw the inheritance
- The benefits of naming a charity as the beneficiary
Connect with Royal Standley:
- Oregon Pacific Financial Advisors
- About Royal Standley
- Schedule Online with Royal Standley
- (541) 772-1116
- Email Royal Standley
- Episode 23: What the SECURE Act Means for You
- Episode 6: It’s Never Too Soon to Start Estate Planning
- Episode 22: How To Write Your Legacy LetterAdvisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.