Is anything private anymore? We live in a digital age where information is quick and abundant. While this is helpful in many circumstances, it ...

A beneficiary is a person or entity who receives your assets once you’ve passed away. Designating a beneficiary ensures your assets go where you want them to once you’re gone. But it’s not ...

Nonspouse person who doesn’t fit one of the eligible designated beneficiary categories (for example, an adult child). A nonperson entity named as a beneficiary (for example, charitable ...

Key Takeaways Bank account beneficiaries can be designated as primary or contingent beneficiaries, the latter of which inherits an account if the primary beneficiary dies. When selecting and ...

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act), was originally signed into law on December 20, 2019.

Life changes such as marriage, divorce, and the passing of a loved one can leave outdated beneficiary information on accounts ...

The IRS reminded account holders, and their beneficiaries, with employer-sponsored retirement plans and IRAs, of the upcoming ...

Eligible designated beneficiaries, meanwhile, are typically surviving spouses, minor children, disabled individuals, chronically ill beneficiaries and beneficiaries who are less than 10 years ...

their status as a beneficiary is fully annulled—it’s as if they never were the designated beneficiary. This individual, therefore, will not owe federal or estate taxes on the assets.

A beneficiary can be a spouse, child, parent, or anyone you choose. Entities such as a charity, a church, or an educational institution can be designated beneficiaries. You can also name your ...

As the 2024 tax year comes to a close, for clients who haven’t already, it’s time to begin evaluating changes to the tax code that will apply beginning in 2025. One of the most broadly ...