Ira Beneficiary
Learn about naming IRA beneficiaries for your retirement accounts. Understand primary vs contingent beneficiaries, required distributions, and common mistake...
What happens if I don't name a beneficiary on my IRA?
If you don't name a beneficiary on your IRA, the account typically goes to your estate when you die, which can create problems. Your heirs may face faster required distributions, higher taxes, and potential probate delays. The IRA custodian's default rules will determine who inherits, which might not match your wishes. Most financial institutions allow your spouse to inherit by default, but other family members would need to go through probate court.
