Roth IRA Conversion

The potential advantages of converting funds from a traditional 401(k) or IRA to a Roth variant have been acknowledged for some time now. Not only does the conversion potentially allow you to manage your retirement taxes with more flexibility, but it can also enhance your after-tax income. In this blog post, we will delve deeper into the intricacies of Roth conversions and the compelling reasons why this might be the year to consider it. The Upside of Roth Conversion Tax-Free Withdrawals: Upon converting to a Roth IRA, all qualified withdrawals…

By Ashlea Ebeling Navigating the complex world of estate planning has become increasingly challenging for older Americans hoping to bequeath their retirement savings to their grandchildren without leaving them a substantial tax bill. Recent changes to estate planning rules have greatly influenced how heirs must handle inherited retirement accounts, requiring most non-spouse beneficiaries to withdraw these funds within ten years instead of the previously allowed several decades. The shift in the rules has seen a trend of grandparents reassessing their estate plans, creating new trusts and strategies to maximize their…