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How to Title an Inherited IRA
By JLP | August 26, 2006
When inheriting an IRA, it is important to make sure you get the title right. Here’s a suggestion I saw in the Ask Encore section ($) in today’s Wall Street Journal:
1. The name of the person who died
2. The word “IRA”
3. A statement that it is “for the benefit of” the heir.
The article then gave an example:
John Smith IRA (deceased Aug. 19, 2006), F/B/O Joseph Smith, beneficiary