If your IRA account isn’t seen as a necessary asset for you to have once you retire, you should consider a strategy which will distribute it to a beneficiary once you’ve passed on. IRAs are increasingly becoming the largest and most common types of inherited assets, and for good reason. Certain planning strategies can reduce the amount of taxes applied to IRAs, which will increase the potential savings in the long run.
There’s also an option of splitting the IRA value. For example, you can provide a regular distribution of an income percentage to a beneficiary while keeping the remaining balance invested to deter the amount of taxes. This will provide a better long-term financial situation for your beneficiary. Let us know if this is an option you’d be interested in executing and we can help you do the proper evaluation and implementation.
For additional information on your financial strategy, call or email us today at 800.687.6768 and email@example.com.
To provide you with the best financial planning experience, we may offer you information on different investment and insurance products.
Be aware that no investment advisor will offer legal and tax advice, and no information given should be constituted as such. For that form of consultation, please contact an appropriate tax or legal professional.