Fixing an IRA Beneficiary Mistake

Brian Fricke, CFP®Retirement Planning

In this edition:

One of our clients recently inherited their father’s IRA account. They were listed as the sole beneficiary, so everything should be okay, right?

Wrong! Dad had 4 children and really intended for each of them to inherit an equal share of his IRA money. But now he’s passed away and can’t change who the beneficiaries are.

Find out what you can do to “fix” this situation if something like this happens to you.