Folio Investing: Beneficiaries on IRA Accounts

It is imperative that you designate (and keep current) beneficiaries on your Folio IRA accounts (the same can be said for all non-probate asset accounts such as pensions, company retirement plans, life insurance policies, and non-Folio IRAs).

Here’s how to name or change beneficiaries on your Folio IRA accounts:

  • Find your username in the far upper right-hand corner of the screen.
  • Click on it and choose “settings” from the drop-down box.
  • Find your IRA account name and look for the “Change” heading.
  • Click on “Beneficiaries.”
  • Enter your primary beneficiary information first, along with the desired percentages for each. You may need to choose “add primary beneficiary.”
  • After entering your primary beneficiaries, choose “add secondary beneficiaries” (again, adding more beneficiaries if and as needed). Percentages for each beneficiary type must add up to 100%.
  • Continue as prompted until the process is confirmed and complete.
  • Repeat this process for all IRA accounts.