Reported 1 day ago
IRA expert Ed Slott argues that recent legislative changes have made traditional individual retirement accounts (IRAs) a poor choice for estate planning and wealth transfer. The elimination of the 'stretch IRA' benefit has replaced it with a 10-year withdrawal rule, forcing beneficiaries to take distributions and potentially face higher taxes. Slott suggests converting to Roth IRAs and utilizing other strategies to manage tax implications more effectively, stressing the importance of proactive tax planning in retirement.
Source: YAHOO