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Investing Specialists

Who Should Inherit Your IRA?

Understand the tax AND other implications when leaving IRA assets to spouse and nonspouse beneficiaries, charities, trusts, or your estate.

Deciding who you want to inherit your IRA is straightforward. As with any other asset, the best answer is whoever (or whatever, in the case of charities) is most deserving and would derive the biggest benefit from the money.

Yet the logistics leaving IRA assets to loved ones, a trust, estate, or charity can get complicated; Morningstar.com contributor Natalie Choate, an IRA specialist, frequently writes about the mistakes people make when it comes to making IRA beneficiary designations.

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