Roth IRAs can be beneficial to your estate planning when leaving money to your heirs. If you can afford to leave your money intact, you will be able to pass on more to your heirs as compared to a traditional IRA due to income tax rules. If you inherit a traditional IRA, income taxes are due on each withdrawal. When you inherit a Roth IRA, your heirs do not have to pay any income tax when they withdraw money.
Your financial and/or tax adviser can provide you with all the details concerning IRAs and Bradford Miller Law, P.C. can help you with your estate planning needs. We can help you prepare all the legal documents needed , offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your financial affairs are in order. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
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