Finance
The SECURE Act of 2019 & IRA/401(k) Inheritance(s)
Don’t leave your beneficiaries with a large tax burden due to the new 10-Year Rule. Look into cashing gains out in retirement, and gifting cash to them. Losing a loved one is an extremely emotional time, executors have a tough responsibility to wrap up the deceased(s) finances, file their final tax returns, and close out the estate. Unfortunately, with all of the stress, the tax implications are often overlooked until it’s too late. Estate planning for 401(k)’s and IRAs completely changed after 2019, this article will help explain the tax implications of the changes to those of you leaving or