Six Estate Planning Mistakes People Make With Their IRAs

Get together with like-minded individuals in our Impactful Inheritance community to discuss planning, preservation, and protection of wealth. Join our community today and start making a difference for future generations. 30 day free trial at the following link: www.impactfulinheritance.com/...
Our national estate planning law firm website: aeplawyers.com/
To request a no-cost zoom estate planning design meeting: aeplaw.cliogrow.com/intake/71...
00:00 Six Estate Planning Mistakes IRA Owner Make
0:13 Will and Beneficiary Designations Not Consistent
0:28 Trust For Minor or Irresponsible Beneficiary
1:10 Name Spouse as 100% Beneficiary (Not Always a Mistake)
1:56 Charitable Bequests Should Be From IRA
2:24 Make Survivors Aware of Scattered IRAs
2:43 Not Withholding Taxes From IRA Distributions

[@richard9827]

Glad to hear you mention about leaving your Traditional IRA, not Roth, to charity. I recently learned this after much digging while putting together our Revocable Trust. I get great delight knowing that my charity gets the share of my estate that I want and my estate doesn’t need to pay taxes.
The beneficiary of my Traditional IRA is the charity, not the Trust.

[@ld5714]

Good morning Paul. Thank you for the update and reminder of this important information. Have a great day! Larry, Bakersfield, Ca.

[@jacquelinejones9121]

Thank you as always for sharing this wonderful information.

[@americasestateplanninglawy1946]

So nice of you

[@litrealred6840]

Hi! I just seem your notifications, I remember asking you about this! Thanks! 🤗🥰

[@americasestateplanninglawy1946]

You are so welcome!

[@litrealred6840]

@@americasestateplanninglawy1946 🤗👍🏻

[@mth4849]

Great video. Concise and quick.

[@americasestateplanninglawy1946]

Thanks! 👍

[@flm1977]

what about Roth IRA, will the money in Roth IRA becomes Roth IRA if my beneficiary receives it?
I will donate whatever in my Sep IRA and IRA to my church.
Thank you for the suggestion!

[@aim.1]

Great stuff! Thanks for sharing!

[@americasestateplanninglawy1946]

Our pleasure!

[@william-fla-321]

I tried to tell my father about gifting the church and his cousin, from his will. He gave already taxed money to the church and an insurance policy to his cousin. Meanwhile, he gave his three children a 300k taxable IRA to split. I just take the RMD, because I made 194k last year and don’t want to pay a higher tax rate. I’ll cash it out after I retire, take a nice vacation, and place the extra money in my 5 year cash bucket.