![\"Know-Your-IRA-Beneficiary\"](\"http:\/\/i0.wp.com\/www.theeldercarefirm.com\/wp-content\/uploads\/2013\/11\/Know-Your-IRA-Beneficiary.jpg\")
<\/a><\/h1>\nNaming the right beneficiary <\/a>could result in years of tax-deferred savings<\/h1>\nBy Chris Berry<\/p>\n
Would you like to transform your modest tax-deferred account into millions for your family? Based on whom you name as beneficiary, this money can continue growing tax-deferred for your children\u2019s or grandchildren\u2019s lifetimes.<\/p>\n
Typically, after you turn 70 1\/2, or your required beginning date, the government makes you start taking money out. However, naming the right beneficiary<\/a> can ensure that your money continues to grow tax-deferred for decades.<\/p>\n(Related:\u00a0How to Choose a Caregiver<\/a>)<\/p>\n\u00a0To calculate your required minimum distribution<\/strong> you must annually divide the year-end value of your account by a life expectancy divisor from the Uniform Lifetime Table (provided by the IRS). This produces the minimum required to be withdrawn from the account for that year. You can choose to take out more, of course.<\/p>\nThere was a time when your beneficiary<\/strong> could affect your distribution, but no longer. Distributions are based (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Naming the right beneficiary could result in years of tax-deferred savings By Chris Berry Would you like to transform your modest tax-deferred account into millions for your family? Based on whom you name as beneficiary, this money can continue growing…<\/span><\/p>\n
(Related:\u00a0How to Choose a Caregiver<\/a>)<\/p>\n \u00a0To calculate your required minimum distribution<\/strong> you must annually divide the year-end value of your account by a life expectancy divisor from the Uniform Lifetime Table (provided by the IRS). This produces the minimum required to be withdrawn from the account for that year. You can choose to take out more, of course.<\/p>\n There was a time when your beneficiary<\/strong> could affect your distribution, but no longer. Distributions are based (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Naming the right beneficiary could result in years of tax-deferred savings By Chris Berry Would you like to transform your modest tax-deferred account into millions for your family? Based on whom you name as beneficiary, this money can continue growing…<\/span><\/p>\n