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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.

Royal discusses:

• 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

Resources:

• 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 Letter

Discussions in this show are for educational purposes only. The information presented should not be considered specific investment advice or a recommendation to take any particular course of action. Always consult with a financial professional regarding your personal situation before making financial decisions. The views and opinions expressed are based on current economic and market conditions and are subject to change. All investing involves risk, including the potential for loss of principal. Securities and Advisory Services offered through United Planners Financial Services, Member FINRA, SIPC. Oregon Pacific Financial Advisors and United Planners are not affiliated. United Planners and its representatives do not offer tax or legal advice.