It is currently estimated that Americans have more than $5 trillion invested in IRAs, and much of this wealth will pass to their heirs. To ensure that it does, be sure you are not committing one of these five costly errors:
1. The Missing Form - if your family doesn't know where to find your IRA beneficiary form, then they will be stuck with the default provisions of your plan - which may mean the IRA assets go to your estate, which is not where you want them to go. Be sure you get an acknowledged copy of your IRA beneficiary form from your plan administrator and keep it with your other important estate planning documents.
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