Will You Be Inheriting a 401(k), IRA or Roth-IRA?
Tax deferred retirement accounts are often the largest asset in an estate. If you are a beneficiary, the good news is that you have inherited considerable wealth. The bad news is that you are responsible, sooner or later, for paying the income taxes on the distributions.
As a beneficiary, there are things you need to do by specific dates to secure your inheritance and greatly minimize your tax burden. If you don’t take action, or miss the regulatory deadlines, income taxes and penalties can be huge.
Don’t touch inherited accounts until you get help.
If this seems complicated, it is. This is not the time to “do-it-yourself.”
Spouse beneficiary has special benefits. Don’t lose them.
Can beneficiaries do Roth-IRA Conversions?
We have created a “Road Map for Beneficiaries Inheriting a 401(k), IRA or Roth-IRA.”Find out how this valuable resource can help you and your heirs.
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For expertise designed to successfully set up inherited retirement accounts, contact Harry now to avoid huge taxes and penalties.
Ed Slott’s Master Elite IRA Advisor Group
As an Ed Slott Master Elite IRA Advisor, Harry Rubins specializes in the up-to-date knowledge in the area of tax deferred retirement plans and participates in ongoing, advanced education programs on all IRA, Roth IRA, and company retirement plan related issues for the participant(s) and their heirs.
As a member of Ed Slott’s Master Elite IRA Advisor Group, you are assured that Harry Rubins has the expertise, training, and commitment of specialization in the area of little known IRS rules that can make a difference to you and your heirs. Keeping abreast of the up-to-the-minute changes within the tax code as it relates to IRAs, and knowing how to implement these changes, is Harry Rubins’ specialty and expertise.