Results for Estate Law and Probate
When Good IRA's Go Bad: Common Pre-and-Post Mortem IRA problems with Uncommonly Bad Results
Individual Retirement Accounts are tax-deferred accounts that, if handled properly, can be an effective vehicle for retirement and can be passed on to a surviving spouse or other heirs while retaining the deferral of income tax. The new IRA rules enacted a few years ago provide post-mortem planning opportunities in an area that previously had little flexibility. To take full advantage of these new opportunities, IRA owners and their professional consultants must pay special attention to the planning details. A lack of proper attention to details can have near disastrous results. The purpose of this article is to point out some potential perils and pitfalls.