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Managing Your Gain: A Guide to Inherited IRAs

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Manage episode 428470891 series 2993685
Content provided by Dave Hall, CPA, Dave Hall, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dave Hall, CPA, Dave Hall, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Dave Hall explains the intricacies of setting up beneficiaries for your retirement accounts, including the importance of careful planning to avoid tax problems and family disputes.

Dave highlights real-life examples where poor planning led to unnecessary legal fees and strained family relationships, emphasizing the need for regularly updated beneficiary forms. He offers insights into the specific rules and benefits for various types of beneficiaries under the Secure Act, such as the advantages spouses have compared to other inheritors and the ten-year window rule for non-eligible beneficiaries like children and grandchildren.

You'll also hear about the potential scams to watch out for, the relevance of trusts, and strategies for Roth conversions to minimize future tax burdens. Whether you are a retirement account holder planning your estate or a beneficiary navigating an inherited IRA, this episode is packed with essential advice to secure your financial future.

Support the Show.

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors

  continue reading

127 episodes

Artwork
iconShare
 
Manage episode 428470891 series 2993685
Content provided by Dave Hall, CPA, Dave Hall, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dave Hall, CPA, Dave Hall, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Dave Hall explains the intricacies of setting up beneficiaries for your retirement accounts, including the importance of careful planning to avoid tax problems and family disputes.

Dave highlights real-life examples where poor planning led to unnecessary legal fees and strained family relationships, emphasizing the need for regularly updated beneficiary forms. He offers insights into the specific rules and benefits for various types of beneficiaries under the Secure Act, such as the advantages spouses have compared to other inheritors and the ten-year window rule for non-eligible beneficiaries like children and grandchildren.

You'll also hear about the potential scams to watch out for, the relevance of trusts, and strategies for Roth conversions to minimize future tax burdens. Whether you are a retirement account holder planning your estate or a beneficiary navigating an inherited IRA, this episode is packed with essential advice to secure your financial future.

Support the Show.

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors

  continue reading

127 episodes

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