IRA Distribution Planning
Our founding partner, Thomas A. Lane, Jr., a Certified Financial Planner® and a Chartered Financial Consultant®, has been trained by the nationally recognized IRA Distribution Expert, Edward Slott, CPA. His understanding of IRA rules will help you preserve and enhance wealth for your family.
If IRA assets make up a significant part of your estate, you owe it to yourself and your family to review your IRA Distribution Plan. Do not take for granted that you have a Will and everything is in good order. A large IRA can throw a major wrench into your estate plan if you or your current advisor fails to recognize the urgency of reviewing your IRA beneficiary designation and distribution plan and coordinating them with your overall estate plan.
Why Are IRAs Different?
- IRAs pass to your designated beneficiary and NOT under the terms of your Will.
- IRAs have Required Minimum Distributions (RMDs).
- IRAs are “tax-infested” assets – meaning they are subject to income tax and possibly estate and/or inheritance tax.
- IRAs cannot be gifted or transferred to trust.
- IRA ownership cannot be transferred to a spouse or partner.
- No capital gains tax treatment
- IRA beneficiaries may qualify for special tax breaks that often are wasted.