055: What Really Happens to Retirement Accounts in Probate with Ryan Holloway
Probate planning gets much more complicated once retirement accounts and real families enter the picture. Financial advisor Ryan Holloway, AWMA® explains how beneficiary designations control where the accounts go, what happens when a spouse rolls funds into her own IRA, and how required minimum distributions and age rules (59½ and 73) affect withdrawals and penalties.
Ryan breaks down traditional vs. Roth accounts, why the IRS only cares when money goes in or comes out, and how tax-deferred growth can significantly extend wealth. We also cover the 10-year payout rule for non-spouse beneficiaries, key exceptions, and how poor planning can push children into higher tax brackets. Listeners come away with a clearer picture of how retirement accounts, step-up in basis, and trust planning all fit together in real probate work.
In this episode, you will hear:
- How retirement accounts pass from a deceased spouse to a surviving spouse
- Rolling employer plans into an IRA and what that changes for control and taxes
- Traditional vs. Roth retirement accounts and how contributions and withdrawals are taxed
- Required minimum distributions, age rules, and early withdrawal penalties
- How capital gains work inside retirement accounts vs. taxable accounts
- Non-spouse beneficiaries, the 10-year rule, and key exceptions for minors and disabled heirs
- Using trusts, step-up in basis, and planning for real estate and cash accounts as part of an overall inheritance plan
Resources from this Episode
https://www.edwardjones.com/us-en/financial-advisor/ryan-holloway
The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw
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