How to Leave Grandkids Your Retirement Savings—and Not a Huge Tax Bill

Recent regulations have made it harder for older Americans to leave retirement savings to their grandchildren without subjecting them to significant tax bills. With non-spousal heirs now required to draw down inherited retirement accounts within 10 years, instead of decades, it’s crucial to understand the implications and explore strategies to protect your grandchildren’s inheritance.

 

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Tax Strategies for Retirement (GRA BLOG)

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Source Article: https://www.wsj.com/articles/retirement-inherit-ira-taxes-d6ee70d

Our firm is not affiliated with the U.S. government or any governmental agency. Investment advisory products and services made available through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. Investing involves risk, including the potential loss of principal. Any references to protection benefits, safety, security, and lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified tax professional for guidance before making any purchasing decisions. Our firm is not affiliated with the U.S. government or any governmental agency. This material is intended to provide general information and is believed to be reliable, but accuracy and completeness cannot be guaranteed. Investment advisory services made available through AE Wealth Management, LLC (AEWM). AEWM and Gregory Ricks & Associates are not affiliated companies. 01898527 – 7/23