Qualified Trust

Dec 5, 2023 | Trusts

Associated with LaPorte Law Group, PLLC

For those of you who do not need to take from your retirement funds, or any other qualified tax – deferred accounts, the SECURE ACT, unfortunately, eliminated “Stretch IRAs” -which allowed to extend his or her IRA, including any 401(k) or 403(b) or 457 money that has been (or can be) rolled over into an IRA, beyond their deaths, and the required minimum distributions were extended, allowing the principal to remain tax deferred for a longer period of time, thus earning more interest.

However, there is still an estate planning tool, that you can put in place now to still extend the tax-deferral of your qualified monies, allowing the balances to increase, more than they would without putting in place this very useful tool, and despite the SECURE ACT. It is called a Qualified Trust. The provisions of a Qualified Trust must be precise, and in accordance with the law.

If any of you are interested in discussing a Qualified Trust, I look forward to your call, text or email.

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