Passing Down Your IRA or 401(k) Tax-Free with an Inherited IRA
Your IRA or 401(k) may be one of the largest assets you leave behind. But who receives it, how they receive it, and the tax consequences can depend heavily on how your beneficiary designations and estate plan are structured.
In this webinar, Mat Sorensen of Directed IRA and Ryan Tosto of KKOS Lawyers break down the rules surrounding inherited retirement accounts, including spousal rollovers, inherited IRAs, the 10-year rule, trusts, and beneficiary planning.
What You’ll Learn
- Spousal rollover vs. inherited IRA rules
- How the 10-year rule works
- Traditional vs. Roth inherited IRA strategies
- Why beneficiary designations are so important
- When a trust may be used as an IRA beneficiary
- Planning for children and other heirs
- Common tax and estate-planning mistakes to avoid
Your Beneficiary Designation Matters
For retirement accounts, the beneficiary designation generally controls who receives the account—not simply what is written in your will or trust.
That makes it important to review your beneficiaries after major life events such as marriage, divorce, remarriage, or the birth of a child.
Where Your Trust Fits In
A properly structured trust can help coordinate your retirement accounts with the rest of your estate and provide additional control over when and how beneficiaries receive assets.
This can be especially important for minor children, beneficiaries who may not be ready to manage a large inheritance, or families with businesses and real estate.
Make Sure Everything Works Together
Your retirement accounts, beneficiary designations, trust, real estate, and business interests should all work together as part of one coordinated estate plan.
If you haven’t reviewed your estate plan or beneficiary designations recently, the attorneys at KKOS Lawyers can help you make sure your structure reflects your current wishes.
Book a call with the KKOS Lawyers Client Advisor Team to discuss your investment strategy and determine whether a Comprehensive Tax and Business Consult is right for you.
This content is for educational purposes only and does not constitute legal or tax advice.
