It’s Been Three Years, Why Should You Care Now?
Even though the Lifetime Stretch IRA has been eliminated, clients are taking advantage of a planning opportunity that gives them a more efficient alternative to the Stretch IRA.
With the Secure Act limiting the stretch period to only 10 years for beneficiaries of an Inherited IRA, the amount received is less and likely more is paid in taxes. If clients have an IRA they are planning to leave to children, utilizing RMDs or distributions from the IRA today to purchase life insurance can provide a more tax-efficient inheritance in the right situations.
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