Four categories are recognized under current regulations to qualify as an Eligible Designated Beneficiary (EDB). These include the surviving spouse, minor children of the decedent, a disabled or chronically ill individual as assessed at the time of the decedent's passing, and other individuals who are no more than ten years younger than the deceased account owner. If you fall into one of these categories, you'll be afforded more time and flexibility than Non-Eligible Designated Beneficiaries. This is due to recent regulatory changes, underscored by The Secure Act, altering the landscape of inherited IRAs.
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Investing can often feel like riding a rollercoaster of exciting highs and daunting lows. This week, we’re digging into the intricacies of the financial planning process, focusing particularly on the importance of understanding market trends and the role diversification plays in safeguarding your wealth.
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