FIND THE SECRET TO PROTECT YOUR IRA ASSETS FROM BEING TAXED UP TO 70%
Continued from Part 2
If she passes away at 80, the inherited IRA is approximately $541,000. If the child continues taking his/her RMD’s (based on his/her life expectancy, by the time they are 80 they would have taken out a $2.9 million and will still have over $700,000 remaining to pass down to their children.
What if there was no planning done for our above example? (what if this was you or a loved one?) What if the 45 year old cashed-in his IRA and spent it on various needless costs? (new car, boat etc.) Or worse yet what if your child goes through a divorce? Do you want your child’s share to potentially go to an ex-in-law.
You should be consulting our firm to have a Stand-Alone IRA Trust created for you. Since, there are many advantages this type of trust has over your standard revocable living trust. Don’t you owe it to your loved ones to have that piece of mind that your IRA is properly planned?
Call our firm to find out what the 4 critical steps are to transfer your IRA assets to your loved ones. Don’t delay, you could be costing your family hundreds of thousands of dollars.
Call now for a free report on the 4 crucial items every estate plan needs to stay out of probate court! Contact@15criticalpoints.com or 248.358.6965 for our National HQ.
This was posted by Attorney Joseph Dadich, on Feb. 14, 2008 at 8:16 am. You can reach me at http://www.1estateplanningmichigan.com
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