EP 259: Building Your IRA Beneficiary Family Tree: What You Need to Know

On this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® explore the intricacies of IRA beneficiary designations, with a special focus on the IRA Beneficiary Family Tree.

They discuss key scenarios, including how distributions work when leaving an IRA to an organization, your spouse, or your children. Nick and Jim explain the tax implications and strategic considerations for each option, such as how IRAs transfer to a surviving spouse with potential benefits, the options available to children and other heirs, and how charitable organizations are treated differently.

This episode provides listeners with practical insights on how to structure IRA beneficiaries to best fit their family’s financial goals and legacy.

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Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind.

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