June 04, 2024
What You Need to Know When Inheriting an IRA
Will an individual retirement account (IRA) be part of your wealth transfer plan?
Will an individual retirement account (IRA) be part of your wealth transfer plan? While many individuals own IRAs for their tax benefits, the rules for using the funds become even trickier for those who inherit the accounts. As the beneficiary, your options will depend on a variety of factors, which could have significant tax consequences. In this session, Chief Planning Officer Jeffrey Levine discusses what IRA owners and their beneficiaries should know when transferring accounts to heirs.
In this session, he will cover:
- The different types of beneficiaries, such as spousal and non-spousal
- The inheritance rules that apply to different beneficiary types
- Strategies to mitigate adverse tax impacts for the beneficiary types that have less beneficial provisions
Category
Estate & TrustContent Topics
About the Author
Jeffrey Levine
Chief Planning Officer
Clients deserve a knowledgeable advisor who is up to date on the latest changes in the laws, regulations, tools, and trends that may impact their overall financial plan. As Chief Planning Officer, Jeffrey works closely with the Focus team to create a seamless and enjoyable experience for clients that makes it easy to plan and instill confidence as they work towards their most important goals.
