Watch our next webinar to discover how to use whiteboard videos like this to grow your practice: Loan Officer, Reverse Mortgage, Medicare Agent and Financial Advisor video marketing Video Transcript: If you’ve become the beneficiary of an IRA or other retirement account, it’s important to know your options. You can take the money out in one lump sum. This requires opening an account called an Inherited IRA in your name for correct IRS reporting. That lump sum may be taxable depending on whether the original contributions were pre or post-tax. Or you can open an Inherited IRA and leave it alone to grow tax deferred. You can't make additional contributions and must start taking Required Minimum Distributions based on when the deceased would have turned 72. You must also liquidate the account in ten years. With this option, you can name your own beneficiary to pass it on. If your spouse left you the account, you’re allowed to roll those assets into your own retirement account and follow your account’s distribution rules. You could also disclaim the account, or not accept it. The assets can then pass on to alternate beneficiaries. If you disclaim, it must be done before taking possession of the account, and within nine months of the original owner’s death. To learn more about what to do with an inherited retirement account, please give us a call today....(read more)
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TVS 65 is a potentially valuable tool for those who inherit an IRA. An IRA, or Individual retirement account, is a type of investment account that allows individuals to save for retirement on a tax-advantaged basis. When someone inherits an IRA from a deceased relative, there are several options available to them. In this article, we will discuss what an inherited IRA is and what can be done with it using TVS 65. Firstly, an inherited IRA is a retirement account that is passed down to someone after the original account owner passes away. The beneficiary of the account can either take distributions and pay taxes on them or delay distributions until they reach a certain age. The exact distribution rules depend on the type of IRA and the relationship between the original account owner and the beneficiary. Now, with TVS 65, a beneficiary can potentially maximize their IRA's value by using the flexible distribution rules that come along with it. TVS 65 can structure the inherited IRA into a Retirement Benefits Trust which permits the beneficiary to postpone withdrawals and stretch the life of the IRA. If the beneficiary is not in an immediate need of cash, delaying the withdrawals allows the account to compound and grow tax-deferred for years, potentially earning substantial interest. Moreover, TVS 65 transforms the inherited IRA into a protected asset shielded from future creditors, beneficiaries and divorce. Previously, the IRA’s protection depended on state laws, which could vary widely. TVS 65 structures the IRA into the Retirement Benefits Trust which much more robust asset protection that is uniformly protect across all fifty states. TVS 65 can also assist inherited IRAs with paying lower income taxes by providing beneficiaries with a strategic income and tax plan. The right distribution plan can help control income tax liability year after year while stretching the accumulated wealth and preserving the asset. In conclusion, if you are a beneficiary of an inherited IRA, TVS 65 can assist in transforming the account into a Retirement Benefits Trust that provides powerful advantages like compound growth, asset protection, and income tax planning. Be sure to talk to a tax advisor, wealth manager, or financial professional for more information. https://inflationprotection.org/tvs-65-what-can-you-do-with-an-inherited-ira-2/?feed_id=75370&_unique_id=6401c969806e2 #Inflation #Retirement #GoldIRA #Wealth #Investing #ClientMachines #digitalmarketingforfinancialadvisors #financialadviservideomarketing #financialadvisormarketing #financialadvisorvideos #financialcontentmarketing #financialplannervideos #financialvideos #financialYouTubevideos #helpwithvideomarketingforfinancialadvisors #marketingforfinancialadvisors #videomarketingstrategy #websitevideocompany #Whiteboardanimation #whiteboardvideomarketing #YouTubevideosforfinancialadvisors #InheritedIRA #ClientMachines #digitalmarketingforfinancialadvisors #financialadviservideomarketing #financialadvisormarketing #financialadvisorvideos #financialcontentmarketing #financialplannervideos #financialvideos #financialYouTubevideos #helpwithvideomarketingforfinancialadvisors #marketingforfinancialadvisors #videomarketingstrategy #websitevideocompany #Whiteboardanimation #whiteboardvideomarketing #YouTubevideosforfinancialadvisors
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