IRAs Do Not Pass to Beneficiaries

You might also be surprised to know that IRAs do not pass to
beneficiaries through wills and trusts. They are passed solely through
the IRA beneficiary form. So if your will states that you want your IRA
to go to your new wife and your ex-wife's name is on the beneficiary
form, your IRA will go to your ex-wife. That's why it's critical to
ensure that your IRA beneficiary forms are completed properly and up to
date.

In Stay Rich Forever & Ever with Ed Slott (now
airing on most PBS stations), tax advisor and IRA expert Ed Slott
states that only 1% of all financial advisors have the specialized IRA
training to ensure that their clients won't be subject to IRA mistakes
and oversights and end up leaving as much as 90% of their IRAs to the
IRS.  

So how about you? Do your advisors know what they need to
know about IRAs. Will you be leaving as much as 90% of your IRA to the
IRS?