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What Is an IRA Beneficiary?

April 26, 2017Beneficiary IRA

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What Is an IRA Beneficiary?

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When setting up an IRA, the account holder will be able to choose an IRA beneficiary. This individual will be next in line to receive the funds in the account if the primary account holder passes away. If the IRA beneficiary is a spouse of the deceased individual, he or she will have some options when it comes to dealing with the money. Non-spouse beneficiaries will have to start taking distributions from the account.