Call Us At (832) 728 2855
Call Us At (832) 728 2855
IRA Legacy Planning
You want to help your children and grandchildren benefit from your prudent investments. Grayson Financial LLC can help.
Increased payouts – and minimized taxes – can be achieved through strategic IRA legacy planning.
Traditionally, IRAs have been one of the most popular retirement investments because they generate income, minimize taxes and – best of all – offer an opportunity for maximum tax-deferred payouts to beneficiaries – such as children and grandchildren. The latter, also known as Inherited IRAs, have always been a treasured gift, for both the income it provides and its tax-deferred component.
Unfortunately, the IRS has passed a new regulation that impacts IRA legacy planning. For more detailed information about IRA legacy planning please call our office at 832 728 2855 or schedule a meeting.
Grayson Financial's View on IRA Legacy Planning
When it comes to IRA legacy planning, we will take any advantage we can of the current tax code to benefit our clients. This view fits with our overall 5-point investment strategy, which includes:
Remember: Taxes and IRA legacy planning go hand-in-hand. It doesn’t do you much good to make 20, 30 or 40 percent annually on your portfolio if the largest beneficiary is the IRS.
When you work with us, we’ll help you put together an IRA legacy plan that will allow you to pass on your wealth to your family – if you choose – without serious tax implications.
- Making sure you have a great income plan
- Making sure your investment strategy is strong
- Making sure you have a good plan for health care
- Making sure you take time for legacy planning
Grayson Financial's IRA Legacy Planning Strategy
Our legacy planning strategy focuses on what is known as an Inherited IRA. This special IRA – which has considerable tax benefits – has to be implemented at the time of death of the benefactor. However, if the beneficiaries are unaware of the advantages of an Inherited IRA and take their inheritance in cash, they likely will be subject to significant taxes on those funds.
Here’s how we advise our clients to thoughtfully prepare for and handle this situation:
We teach our clients early on how to establish an Inherited IRA as part of their overall retirement investment strategy.
The Inherited IRA becomes part of a check list that we revisit every time we meet.
As a result of this strategy, we consider ourselves problem solvers, not sales people.
Once you trust the data and math and see the results, you’ll be more confident in your investment strategy.