+- MacResource (https://forums.macresource.com)
+-- Forum: My Category (https://forums.macresource.com/forumdisplay.php?fid=1)
+--- Forum: Tips and Deals (https://forums.macresource.com/forumdisplay.php?fid=3)
+--- Thread: The Death Of The Stretch IRA (/showthread.php?tid=235970)
Pages:
1
2
Re: The Death Of The Stretch IRA - Speedy - 01-01-2020
mattkime wrote:
Thanks for posting this. I've been thinking about doing some estate planning since I have two young children. If either me or my wife die its simple - we inherit each other's stuff. Its more complex when we both die at the same time.
I believe trusts could be used to skirt laws like this. Is that still true?
If you’re rich enough.
Re: The Death Of The Stretch IRA - mattkime - 01-01-2020
Speedy wrote:
[quote=mattkime]
Thanks for posting this. I've been thinking about doing some estate planning since I have two young children. If either me or my wife die its simple - we inherit each other's stuff. Its more complex when we both die at the same time.
I believe trusts could be used to skirt laws like this. Is that still true?
If you’re rich enough.
fwiw I've seen numbers hovering around the $3k mark for estate planning and setting up trusts. Seems like that would be worthwhile for a large number of upper middle class people.
Re: The Death Of The Stretch IRA - NewtonMP2100 - 01-01-2020
.....remember.....trust is a two way street....
Re: The Death Of The Stretch IRA - Forrest - 01-01-2020
According to Ed Slott there are five classes of “eligible designated beneficiaries” who are exempt from the 10-year post-death payout rule
Re: The Death Of The Stretch IRA - NewtonMP2100 - 01-01-2020
....what about stretch pants.....?
Re: The Death Of The Stretch IRA - Numo - 01-01-2020
I think I read somewhere that trusts are affected by this Act, too. But I’m not sure how/why.
Re: The Death Of The Stretch IRA - rjmacs - 01-02-2020
Sarcany wrote:
And I'm pissed off that this is just another way to screw the middle class to pay for the tax cuts for the ultra-wealthy.
:agree:
.
Sarcany wrote:
..My parents intended an inherited IRA to work like an allowance for my brother who cannot work and has trouble managing money. This will mess that up. Make him take the money over 10 years and the money will be gone in 10 years.
That stinks, but how were they going to stop him from excessively withdrawing funds from the IRA anyway? Would he be willing to accept a defined annual payout amount set by someone else? If so, could that person control the funds and disburse them on a transparent and legal schedule? There would be costs, of course, but still a lot cheaper than a traditional trust.