Legal Question in Wills and Trusts in Arizona
ira's and estate taxes
I have an IRA outside of my living trust. My two children are equal beneficiaries and would each receive $300,000. One lives in AZ the other in MD. What would be the tax ramifications if they took it in a lump sum. Is there a better option???
1 Answer from Attorneys
Re: ira's and estate taxes
Beneficiaries may be able to stretch out their schedule of withdrawal for a more favorable treatment. Speak with the financial planner who advises you in your IRA investment, and do a calculation of the alternatives. If you do not have a personal adviser for this large a sum, speak with one. If you need a referral, we can provide that at no cost. Understand that we only work with the most sophisticated, conservative and high performing CFPs in the groups with worldwide reputation. If you want additional information see our new web site at JenkinsLawCenter.blogspot.com for instructions on how to get more free information. As to the estate tax ramifications of your estate, there is no information in your question to evaluate that. Speak with an estate attorney.
Best regards,
James D. Jenkins
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