Who inherits my Individual Retirement Account (IRA) if I do not name a beneficiary?

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Video Transcript

If you do not name a beneficiary on your individual retirement account, then that account may have to go through a probate proceeding to get to the beneficiaries of your probate. Your family should call the family institution that holds that IRA and ask them if they have any internal procedures where they can pay that IRA out directly to your closest family members in order to avoid having to go through that probate proceeding.

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