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The Importance of Checking Beneficiaries for Spousal Inheritance of Retirement Assets
Without a proper IRA beneficiary designation, surviving spouses may face significant tax bills.
Author:
By Bill Harris, RMA®
For married couples, checking the status of beneficiary designations on your retirement accounts may seem like a small detail, but failure to do so has potentially far-reaching and expensive implications.
Bill Harris, RMA
Mary’s husband passed away and she contacted her financial advisor seeking advice on how to access her husband’s IRA assets. A simple check revealed that, according to the current custodian of the asset in question, no beneficiary information was on file.
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DENVER, April 1, 2021 /PRNewswire/ The Investments & Wealth Institute issued a new 100-Day Advisor Challenge to competitive professionals looking to push themselves and expand their skillset. The Advisor Challenge begins May 3, 2021 and will push Challengers to building strong retirement management habits, strategies, and techniques using the framework from the Retirement Management Advisor® (RMA®) program.
This academic challenge won t be easy but will be very rewarding, said Devin Ekberg, CFA®, CIMA®, CPWA®, Chief Learning Officer, and Managing Director of Content Development. In a little over three months, challengers will see why RMA professionals report a dramatic positive shift in their approach with retirement clients as they develop more effective frameworks Candidates often speak of the lightbulb moments they experience as they learn and engage with faculty and other students. Those lightbulb moments translate to better