July 27, 2021—The SECURE Act, which went into effect in 2020, severely curtailed the “stretch IRA” as an estate planning strategy. Previously, a beneficiary could extend IRA distributions over his or her lifetime. Now, an heir must withdraw all assets within 10 years of inheriting the account, which can present major tax consequences. In today’s podcast, Wealth Planning Analyst Cailin MacLean discusses a few tax-smart strategies to help you plan for the eventual transfer of your IRA now that the stretch IRA is no longer an option.
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