IRA accounts are different than typical investment accounts. They have a different set of rules. Many people make the mistake that if they bequeath their retirement account to their loved one to the wills, makes sense doesn’t it? However, that doesn’t make it right. The IRA is transferred via the beneficiary form, NOT the will. If there is no designated beneficiary, the family will likely still receive the IRA, but at the highest, most-disadvantaged tax rates. This doesn’t happen on purpose, it happens by mistake because people simply don’t know any better.