The SECURE Act, passed into legislation in December 2019, changed longstanding retirement account rules. One of the most significant changes involves the elimination of the right to “stretch” required distributions from inherited retirements accounts throughout a child’s lifetime. Without effective planning, you could leave a massive tax bomb to your heirs. These resources will show you strategies for reducing the income taxes that you and your heirs owe over your collective lifetimes.
Under the SECURE ACT, your heirs will no longer be allowed to stretch out their inherited IRAs. This video is intended to help you understand how you could position your accounts in order for your heirs to minimize taxes they will eventually owe.
Have you ever wondered if a Roth Conversion is appropriate for your financial situation? This video could help you understand how under the new SECURE ACT guidelines, a Roth conversion could save you a lifetime of income taxes.
𝑇ℎ𝑖𝑠 𝑣𝑖𝑑𝑒𝑜 𝑖𝑠 𝑖𝑛𝑡𝑒𝑛𝑑𝑒𝑑 𝑓𝑜𝑟 𝑒𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑠ℎ𝑜𝑢𝑙𝑑 𝑛𝑜𝑡 𝑏𝑒 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟𝑒𝑑 𝑙𝑒𝑔𝑎𝑙 𝑜𝑟 𝑡𝑎𝑥 𝑎𝑑𝑣𝑖𝑐𝑒. 𝑌𝑜𝑢 𝑠ℎ𝑜𝑢𝑙𝑑 𝑐𝑜𝑛𝑠𝑢𝑙𝑡 𝑎 𝑝𝑟𝑜𝑓𝑒𝑠𝑠𝑖𝑜𝑛𝑎𝑙 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡𝑎𝑘𝑖𝑛𝑔 𝑎𝑛𝑦 𝑎𝑐𝑡𝑖𝑜𝑛.
Do you have questions or would you like to discuss these strategies with one of our financial planners? There is no cost to meet with our team and you are not obligated to move forward with any potential recommendations. S.E.E.D. Planning Group is a fee-only financial planning and investment fiduciary with an obligation to put your best interests first.
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Travis Maus is the managing partner and a wealth manager at S.E.E.D. Planning Group, LLC. He earned the Accredited Investment Fiduciary Analyst® (AIFA®) designation from the Center for Fiduciary Studies®, the standards-setting body for Fi360. The AIFA designation signifies the ability to perform fiduciary assessments measuring how well investment fiduciaries are fulfilling their duties to a defined standard of care. As a wealth manager, he is also a member of the firm’s Financial Planning team where he provides coordinated and strategic financial planning and investment services to families and small businesses.
S.E.E.D. Planning Group LLC (S.E.E.D.)is a Registered Investment Advisor (RIA) with the Securities Exchange Commission. S.E.E.D.’s team provides investment fiduciary and financial planning services to clients. Our fees are disclosed, easy to understand, and not predicated on product sales.