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I.R.A. Rules Have Changed, and Heirs Need to Pay Attention

Wednesday, March 4, 2020

“You could take little crumbs out, and let it grow tax-deferred over decades,” said Ed Slott, a certified public accountant and I.R.A. expert in Rockville Centre, N.Y. Required annual withdrawals were based on life expectancy, so the technique was especially helpful for young children or grandchildren, whose mandatory withdrawals would be quite small.

Now, heirs have just 10 years to drain an account.


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New Retirement Law Throws IRA Heirs a Curveball

Monday, January 20, 2020

"The law simply says you must take out the money after 10 years," notes Slott. "Your heirs could simply leave the Roth alone for 10 years and let the assets grow tax-free--and then take a lump sum. All that growth is tax-free, and it comes out tax-free," Slott adds.

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