One of the biggest areas that gets forgotten in estate planning is your IRA.

On plans like your IRA, or 401 (k) a will has no jurisdiction. In other words if your ex-spouse is named as a beneficiary on your retirement plan account the day you die, they get your plan monies. Even if you wrote your ex out of your will it does not apply to an IRA.

The key is to review your choices periodically, especially after a life altering event. Also, do not leave IRA beneficiary forms blank, If it is blank it will go to probate court for distribution and rules on who gets what vary state by state.

Keep yourself straight and stay up to date.

This entry was posted on Monday, June 29th, 2009 at 12:12 am and is filed under Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.