Inheriting annuities and IRAs

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Q. I am 69 and have annuities and some IRAs. When I bought them, I assumed that I would need them when I retired. Fortunately, my luck has made it possible that I do not need to start getting these annuities at 70½. How can I save this money for my daughter to inherit without paying taxes?

A. Are the annuities qualified or nonqualified?

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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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