Your retirement account may be one of the most valuable things you own. Many people choose to name their children as the beneficiaries of these accounts. They think it is a way to easily transfer their wealth if something happens to them. But, that assumption is only partially true. Some factors make this type of transfer more complicated than you might think, especially if your child is a minor.
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Gregory S. DuPont
What Determines Your IRA’s Required Minimum Distribution Amount?
If you have savings in a traditional Individual Retirement Account (IRA), you must begin making withdrawals at age 72.