Downs Law Firm, P.C.
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.
The SECURE Act killed the stretch IRA but instead of mourning, advisors can help clients make up the loss.
There have been several law changes that affect IRAs passed since December 2019.
The Secure Act will force faster withdrawals from Inherited IRA Accounts.
We are programmed to contribute the “max” to our retirement accounts, but we disregard, or do not understand, the pitfalls of improperly filled-out beneficiary forms.
The Secure Act would upend 20 years of retirement planning and stick it to the middle class.
If Congress gets its way, you’re going to lose the opportunity to help your children build wealth, and at the same time, they could end up in higher tax brackets for years.
Once your money is in a retirement account, it’s there until you’re ready to use it, right? Not exactly.
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