How should I choose the beneficiary for my IRA savings account?

Answer by  tamarawilhite (17883)

Choose beneficiaries who need the money and are legally heirs. This reduces the difficulty of the money passing on in an estate. Spouses, children, and relatives are the best choice.

Answer by  Andrea (39)

Choosing the beneficiary for your IRA savings account can be difficult. You might begin by checking to see what dependents you have; if you have children, a wife, a husband, or anyone else who might depend on your money should you die, you should pick them first. Secondarily, pick other family members that could help, like siblings or cousins.

Answer by  lynn (821)

if you are married or have children it should be your spouse or children otherwise make it whoever will have to take care of your funeral arrangements when you die.

Answer by  scorpie (48)

People with IRA savings accounts usually have chosen a beneficiary prior to initiating this very important step. However, should there be someone at a loss for a likely candidate, look no further - I am amenable to personally assist in making this choice... .

Answer by  Meg (224)

Typically, beneficiaries for all types of investment accounts include your spouse, your children, your parents or your brothers or sisters. Choose who you want to really receive the money.