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Chapter 7. Individual Retirement Accounts > Beneficiary Designation

Beneficiary Designation

Every IRA owner, regardless of whether the IRA is a traditional IRA or a Roth IRA, should have an up-to-date beneficiary designation form that indicates who will receive the funds remaining upon the death of the IRA owner. If there is no beneficiary designation form or if the form is lost, the IRA money will pass to the estate of the IRA owner.

Key

It is important to have both primary and contingent beneficiaries named in the beneficiary designation.



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