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  1. […] Do name a Contingent beneficiary in addition to a Primary. You can name more than one person to be primary and then you indicate in what percent you want the assets shared.  But you should also name contingent beneficiary(ies) in the event that no primary beneficiary is living.  There are very favorable tax rules for heirs when they are designated as beneficiaries by name with the IRA or 401k custodian.  This tax benefit is sometimes called stretching your IRA or a Stretch IRA.  See our report: Stretch Your IRA.  […]

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