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IRA Planning

Tax planning for IRA's has become a science unto itself. We regularly attend seminars where the latest strategies and planning techniques are discussed. Our favorite resource is Ed Slott's newsletter which describes real world cases of successful plans and tax and family blunders. Someday, someone, possibly us, will develop a software based decision tree to identify and recommend the proper beneficiary and distribution choices for a client based upon age, marital status, health, net worth, children's ages, retirement age, tax bracket, etc. The variables for IRA planning include perhaps 20 such parameters and represent both a hurdle and opportunity for us to maximize the outcome for a client scenario.

Did you know

  • IRAs can be inherited by your children or grandchildren and continue compounding tax free during their lifetimes?
  • The penalty for taking too little from your IRA is 50% of the shortfall?
  • IRAs are part of your taxable estate and are taxable income when withdrawn by your heirs?
  • IRAs can be placed in trust after your death to protect your beneficiaries from creditors?
3828 Canal Street • New Orleans, LA 70119 • 504.482.6661