The Book “Top 10 IRA Mistakes” Chapter 3 – Stay Tuned for Chapter 4

Mistake #3  Not Properly Designating Beneficiaries

New Book - David F Royer - Top 10 IRA Mistakes and How To Avoid IRS Tax Traps

The beneficiary form is the single most important document in the estate plan. A common mistake made by retirement plan owners is in the area of beneficiary designations. You would think that choosing who will inherit the money left in your IRA or 401(k) would be simple. The reality is that many children and grandchildren who inherit a qualified plan will be forced into rapid distribution causing rapid taxation due to beneficiary mistakes. Only the IRA owner or inheriting spouse can designate beneficiaries for the purpose of stretching out the distributions and spreading the taxes over the beneficiary’s life expectancy. Here are a few common beneficiary mistakes.

Too Much, Too Fast 

Younger or less experienced beneficiaries sometimes inherit too much, too fast. In such cases, the inherited money can do more harm than good! If the beneficiary has limited experience handling money or has a spendthrift problem, they can squander the funds that were intended to support them throughout their lifetime.

Those who save money are usually better equipped to handle money than those who inherit money.

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This book will help your prospects understand why getting a Second Opinion from you, can save them Thousands in IRS Penalties, Prevent Rapid Taxation, and reduce Excessive Fees and Loads.

The Retirement Plan Owner’s Essential Guide to Navigate the Minefield of IRS Regulations

  • Avoid the 80% IRS TAX TRAP
  • Avoid Costly IRS Penalties
  • Why most Beneficiary Documents Don’t Work
  • Increase your IRA Income
  • Convert your IRA into Tax Free Income
  • Reduce your IRA Taxes
  • Take Control of your 401(k) and 403(b) Plans
  • Don’t let Fees and Loads Erode your Savings

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