A new revenue-generating federal law effective in January 2020 accelerates when your future beneficiaries must pay income tax on inherited retirement account distributions. The Setting Every Community Up for Retirement Enhancement (SECURE) Act eliminates the long-favored “stretch IRA” which allowed the Designated Beneficiary to take payments (and pay the income tax thereon) over his or […]

The IRA’s value as a retirement planning tool is well known: IRA assets compound on a tax-deferred (or, in the case of a Roth IRA, tax-free) basis, which can help build a more substantial nest egg. But if you won’t need an IRA to fund your retirement, you can use it as an estate planning […]

A Roth IRA can be a valuable estate planning tool, offering the opportunity for tax-free growth as long as the account exists and requiring no distributions during your lifetime. These features allow you to pass on greater wealth to your family. While traditional IRAs are more common, there’s no time like the present to consider […]

To take full advantage of an IRA’s tax benefits, non-spouse beneficiaries must transfer the funds directly into an “inherited IRA.” Although the beneficiaries will have to begin taking distributions by the end of the following year, they’ll be able to stretch those distributions over their life expectancies.