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Published August 05, 2012, 11:30 PM

Get advice on naming beneficiaries; it can save your heirs lot of money

Q: My sister and I are in the middle of distributing our parents’ estate. The beneficiary of the estate is a trust. Part of the estate consists of a traditional IRA, which will be split between my sister and me. The problem is that because the IRA will be distributed from the trust and is considered a non-spouse distribution, I’m told that we’ll have to pay taxes on the entire distribution. It’s a good chunk of change.

By: Liz Weston, INFORUM

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