The Bell Tolls For the Stretch IRA
Stretching an individual retirement account refers to the practice of sustaining the tax-deferred status of an inherited IRA for as long as possible when the beneficiary is someone other than a spouse (typically, a child or children). The ability to stretch an inherited IRA could make a difference of hundreds of thousands, or even millions, of dollars over a beneficiary’s lifetime.
We now have compelling evidence that a law will pass, probably this year, putting an end to this useful tool. Here’s some advice on what advisors should be doing about it and steps to take if the law passes.
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