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Experts Warn: IRA Beneficiary Errors Could Cost Millions

11/10/2025

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Summary

Story summary

Experts warn that millions of IRA households face costly mistakes in beneficiary designations, since these designations override wills.
Brandon Buckingham of Prudential Retirement Strategies notes that not naming a beneficiary or using outdated heirs can cause issues, such as ex-spouses inheriting IRAs or 401(k) accounts.
As of mid-2024, nearly 58 million U.S. households owned IRAs, with $16.2 trillion in assets, and growth stems from rollovers from employer plans.

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Story summary

Experts warn that millions of IRA households face costly mistakes in beneficiary designations, since these designations override wills.
Brandon Buckingham of Prudential Retirement Strategies notes that not naming a beneficiary or using outdated heirs can cause issues, such as ex-spouses inheriting IRAs or 401(k) accounts.
As of mid-2024, nearly 58 million U.S. households owned IRAs, with $16.2 trillion in assets, and growth stems from rollovers from employer plans.