Downs Law Firm, P.C.
If the strategy is executed properly, an individual can disclaim interest in an inherited IRA and avoid any of the gift and income tax consequences associated with receiving the property.
While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.
Here are some important parts of your estate plan that should be reviewed.
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?
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.
Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset if the account owner dies. However, these forms can create confusion, unintended bequests, and family turmoil if not adequately monitored.
This time of the year is a great time to revisit your estate plan so you can ensure your legacy is protected for years to come.
These changes are so significant that plan holders should review their wishes and how their estate plans may be affected.
What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
