“In this world nothing can be said to be certain, except death and taxes.” - Benjamin Franklin
Since I can’t take it with me, I would like to have as much say as I can in who gets the lion’s share of my legacy, my chosen heirs not the IRS.
Want to leave an inheritance to your kids and grandkids that can still grow when they get it? With some forward thinking on our part we can help you to do just that. A “stretch” IRA can pull its tax benefits to the next generation.
If the account is established and maintained properly to comply with the rules and regulations, the beneficiary has the ability to do the stretching.
Money in the IRA wouldn’t have to be taken out in a lump sum with the big tax hit. It can be setup to be distributed out over the beneficiary's lifetime or even beyond, like the very wealthy do with trust funds.
"A stretch IRA is one of the biggest benefits of the tax code," says Ed Slott, a CPA and author of Parlay Your IRA into a Family Fortune. But, he adds, "it's only good if everybody knows what they're doing."
That’s where we come in, when we talk let’s discuss this as a vital part of your estate planning.
All the best,
Wesley R. Nicholson, Mike Allen and Aaron Everdyke
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