[UnRuley1]

Annuities that are set up right are great for people who do not want to hassle with stocks, bonds etc. IRAs are just that, INDIVIDUAL, they were not meant to be passed on to your beneficiaries. If someone wants to leave some of their wealth to their children, the best way to do that is to purchase whole life insurance before you retire. When you pass away, the beneficiaries get the money TAX FREE. With an IRA, the beneficiaries have to pay tax and a good portion of what is left gets swiped by the government.
However, those who are informed (most are not) will know they can "rollover" an inherited IRA to your own account. The IRS recalculates the annual required distribution based on the new owners age. Effectively managed inherited IRAs can last several generations, that is if they don't get stolen by the regime.

[Go Gordon]

If someone wants to leave some of their wealth to their children, the best way to do that is to purchase whole life insurance before you retire.

Whole life policies are the worst possible life insurance you could purchase. Hint: Think Term life insurance. The difference in premium between the two can then be invested in mutual finds or DRIPs (if you have the acumen for stocks)

[CodeToad]

The worst way to pass money is whole life. The best way is a family blind trust.