Broker Check


| October 10, 2022

Who you choose as beneficiaries for your retirement accounts and how you designate each beneficiary can have a significant impact on your family. In this episode, I will go over some important things to think about when setting up your beneficiaries and what you can do to ensure that things go smoothly. From planning ahead for the tax implications to ensuring the money gets to the right people, I will give you an overview of the key things you need to know.

There are a lot of things people do not understand about what happens with beneficiaries and the options that you have. I’ll step you through the basic elements involved and provide insight into how you should go about planning and coordinating beneficiaries. You will also hear important tips on updating beneficiaries, understanding the different rules accounts have and more.

Listen To The Episode Here:

What You’ll Learn:

  • The importance of making the right decisions when choosing beneficiaries.
  • Why you may want to incorporate planning for how beneficiaries use their inheritance.
  • Why it’s important to understand the distribution roles.
  • The role that legal and tax advisors play in setting up your beneficiaries.
  • The rules of different accounts and the key distinctions.
  • The options your beneficiaries have and the tax implications involved.

Ideas Worth Sharing:

“Properly choosing the beneficiaries for your retirement accounts helps contribute to the financial well-being of your heirs.” - Regina McCann Hess

“Some states protect the spouse’s ability to be a beneficiary and some do not.” - Regina McCann Hess

“Determining the beneficiaries of your retirement accounts is a crucial element to any estate plan.” - Regina McCann Hess


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