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Advisors can be a hero to their clients in one big way: Remind them to update designated beneficiaries for their IRAs or trusts.
As he said in his session at the American Institute of CPAs conference on Tuesday, not having updated DBs "is where all the problems come from" — particularly in light of changes under the Setting Every Community Up for Retirement Enhancement Act.
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Ginger Szala
Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. MSJ Northwestern, BA University of Wisconsin-Madison. She is based in Chicago. Go Blackhawks!
