What Happens To Your IRA, Roth, & 401k Retirement Accounts When You Die?

Описание: Have you ever wondered what happens to your retirement assets when you pass away? This episode will discuss how to plan effectively for your spouse, children, or other beneficiaries to inherit these monies. We will cover IRA, 401k, and Roth retirement accounts and discuss what beneficiaries who inherit these assets need to know before they just cash out the account.

This episode will cover:
• Distribution planning: Do you have to liquidate these accounts upon inheriting these monies? If not, how should you plan effectively to withdraw the funds?
• Taxes: What are the taxes on these accounts if you inherit them. Does the beneficiary pay or the original owner?
• Administratively, how do you get to these assets and withdraw them? (Dealing with these institutions is very difficult sometimes.)
• If you want to maximize how much your beneficiaries inherit, what should you be thinking about?
• If you want to maximize how you use retirement funds you've inherited, what should you do?

On the flip side, the death of a loved one is devastating emotionally; add onto this time in your life the need to get their finances in order can make it even more stressful. In this live, I will walk you through a case study that shows what things you need to do next if your spouse or loved one has passed away. If you are not in this situation, this stream will help you plan for these tragedies ahead of time knowing how to avoid some of the more stressful outcomes.

Remember, Financial Freedom is found through Discipline 👏

04:38 – Stream starts

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Timestamps:
04:38 – Stream starts
06:40 – Who this video applies to
07:49 – A short note about the probate process
08:43 – Beneficiary designation
10:23 – Contingent beneficiaries & disclaiming process
11:29 – Naming trusts & non-profits as beneficiaries
13:38 – The distribution process for a spouse
18:03 – The distribution process for non-spouse beneficiaries
21:42 – Making the administrative process easier
26:29 – Final thoughts and next week sneak peek

#deathofpartner #estateplanning #financialplanning

The stream will touch on retirement planning and estate planning, inheritance planning, and financial planning. In the realm of financial planning and post-life considerations, questions such as "What happens to your bank accounts after death" and "What happens to your 401k when you die" often weigh heavily on individuals. These queries underscore the importance of retirement planning and the need to address them. It's not only about securing your own retirement but also considering the future welfare of loved ones. "Important Financial Steps To Take After The Death Of A Spouse" highlights the significance of meticulous planning and understanding pension death benefits. Even beyond one's lifetime, there is a need to contemplate "How to pass on your retirement investments when you die." The intricacies of this topic become even more evident as we delve into "What Happens To My Pension When I Die?" and explore "What are the benefits of retirement planning after your death?" These inquiries are central to securing the financial well-being of beneficiaries as discussed in "Today we're talking beneficiaries for your IRA's, Roth IRA's and Individual brokerage accounts as well." In this journey of financial preparation, foresight and knowledge are key. Wondering "How To Financially Plan For Spouse's Death In Retirement?" This video is for you!