Interpreting the Implications of the Secure Act and 10 Year IRA Rule Concerning Inheriting Wealth to Your Beneficiaries
#tax #finance #wealth Many families have the bulk of their wealth to IRAs and 401ks. Some or a great deal of this money you may have planned to give as inheritance to your heirs or family members. Have you taken into consideration the Secure Act and 10 year IRA rule when setting up these accounts? When you leave money to heirs in a tax deferred account, the assets are now required to be completely taken out in 10 years. Do you and your heirs have a plan of how to withdraw this wealth and a strategy in place to keep as much in in their pockets and less with Uncle Sam? Coordinating the timing and having a strategy is very important. Chris Heerlein of REAP Financial out of Austin, Texas is here discussing strategies on how to prepare your wealth for your heirs. To learn more about inheritance strategies given the Secure Act and 10 Year IRA Rule, contact our Austin financial planners at Get your hands on our Tax Bucket Report by emailing retire@reapfinancial.com and we'll