Benefits from Stretch-out Rules with an IRA Trust Attorney
It may be tempting for beneficiaries to withdraw the entire amount from the fund as soon as they can. However, our IRA trust lawyer advises caution for that money can multiply exponentially if left to accumulate over the years.
This does not leave the beneficiaries without an inheritance. Instead, they can make required minimal withdrawals for additional income, without cashing in the money all at once. In order to use the stretch-out rules to the beneficiary's benefit, he or she must file the proper paperwork with the IRS. Since IRS language and procedures are often difficult to decipher and follow, we recommend that you ask our reputable and reliable IRA trust attorney for a free consultation.
IRA Trust Lawyer Protects Interests of Beneficiaries
You want to make sure your children can benefit as much as possible from the funds you leave behind. An IRA inheritance trust not only protects children, but it can also be advantageous to those who may not be savvy with money. This way, they have guaranteed income. Plus, with the stipulation that they can only make the required minimum distributions, your heirs will also be protected from paying excessive amounts of trust money in taxes.
Contact us today for the help of an IRS trust attorney in receiving the most money you can from an IRA. We provide estate planning in St. Louis, St. Charles, Belleville, Collinsville, Manchester, Chesterfield, Clayton, Ladue, Frontenac, and Town & Country, Missouri.
The information provided on this site is provided for illustration purposes only and does not represent a proposal or specific recommendation. As a word of caution, the information presented cannot possibly substitute for competent legal advice. Our treatment of the law is general and is not intended as a comprehensive discussion of all relevant issues. The law in each state will vary to some extent, and the applicability of the law will depend upon your individual circumstances.