Educational Seminars & Client Events

  • Thu
    8:30 AM - 9:30 AMSilver's Bar & Grill 104 Euclid Ave. Park Ridge, IL 60068




    With the S.E.C.U.R.E. Act essentially handicapping the tax-efficiency of inherited IRAs, much of the recent focus has been on finding replacement strategies for the grantors of such accounts - But what about the side of the family inheriting the IRAs? Unprepared inheritors run the risk of trusting now-outdated assumptions about how those gifted accounts will work and can overlook the benefits of better strategies. Worst case - the unplanned for, accelerated taxes might sabotage the security of their own retirement plan.

    In the above scenario, it is likely that most of the problematic taxes result from the legally-forced rapid spend-down of inherited IRAs - your Required Minimum Distribution (RMD) schedule. While there are a handful of strategies, that can reduce RMDs most revolve around donating IRA money to a qualified charity, gradual Roth conversions (too little too late in this case), or even delaying your own retirement.

    Enter the Qualified Longevity Annuity Contract (QLAC).  These game-changing products can allow you to defer distribution of a certain sum inside a Traditional IRA. The amount you set aside becomes immediately exempt from calculations of your current RMDs! The removed IRA funds then become the basis of an insured income stream that can be deferred all the way to age 85, if needed. This is potentially a powerful tool if used properly, especially by those who have to deal with unplanned large RMDs! To learn about the QLACs' power of flexibility in tax and income planning, please join us for breakfast on March 19th.

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