John Bovard, CFP®’s Post

Unfortunately, the rules for using IRAs can become confusing for beneficiaries. The good news? With some careful planning, beneficiaries have several options to take advantage of the tax benefits these accounts offer. Watch the replay of Buckingham’s webinar to find out how to make the most of an inherited IRA.

Navigating inherited IRA distributions under the Secure Act? Discover the latest insights on tax implications and withdrawal strategies for your clients. Learn more: https://loom.ly/h2Zz8WA

Proper planning can help you effectively manage your inheritance and ease the tax impact. Check out this article to learn more! #AddessiFinancialPartners #FinancialPlanning #InvestmentStrategy  

An inherited IRA can be a financial windfall, but there are tax headaches that come with it. Learn how to make the most of your inheritance by planning ahead to minimize the tax burden. #AddessiFinancialPartners #WealthManagement #Inheritance

Inheriting an IRA can be a financial boost, but new tax rules mean you might have a shorter window to access the money. You may want to go ahead and consult a financial advisor before taking out funds. Here's how the withdrawal window could impact your taxes: https://bit.ly/4d7v4HU #retirementplanning #inheritance

Its never too early to understand how an IRA works. Comprehending the 5 phases of an IRA could not only benefit you, but also the ones you love. 1. Accumulation 2. Opportunity Zone/ Tax Control 3. RMD’s 4. Single Filing 5. IRA to beneficiaries Want to learn more? Connect today! #tiptuesday #automatetobegreat #stjohnindiana #planningahead #retirementplanning See thrivent.com/social for important disclosures.

I saw a financial adviser last week and I have to talk about it. They have a client who's been diligently using their ISA and pension allowances for several years. But the adviser needed to assess where they were at now in their journey and whether they needed to change course. For example: Would some cash flow forecasting show that they are now unlikely to need to rely on future investment growth? Have the investments grown well enough that the client now has an Inheritance Tax liability? In the end, the adviser's ongoing advice was to propose a strategy that protected future investment growth from Inheritance Tax whilst also addressing the existing liability. Had it not been for their advice over the initial years, accessing the capital tax efficiently to implement the proposal might have been more tricky. (Link in comments to discuss ongoing advice with Julia Kiff-Brown FPFS directly) #financialadvice #financialplanning #retirementplanning

An inherited IRA can be a financial windfall, but there are tax headaches that come with it. Learn how to make the most of your inheritance by planning ahead to minimize the tax burden: #inheritance

Inherited an IRA from a parent? Discover how to manage withdrawals in a tax-efficient way. Depending on when they passed, you may have 10 years to empty it with no annual requirements. Timing is key for tax savings - read more to optimize your inheritance. #TaxPlanning

Roth IRA Inheritance Insights: Did you inherit a Roth IRA? Discover why this might be a boon for your financial future. Our recent blog explains how Roth IRA earnings grow tax-free, offering a significant advantage for beneficiaries. Learn how to leverage this powerful estate-planning tool! Read it now: https://lnkd.in/evk_gMcm #inheritedIRA #rothIRA #estateplanning