BSMG Blog: Protecting the Future of Families and Businesses

Advanced Sales: Creating an Inherited IRA Legacy Plan


With the recovery of the equities markets after the economic downturn of 2008-2009, it is common for successful business owners, professionals, and other individuals to have more than $1,000,000 in their IRA account.

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Understanding the Inherited IRA Legacy Plan

Have you encountered a client, maybe a successful business owner or professional, with more than $1,000,000 in their IRA account? Many of these IRA owners have multiple sources of income as they approach their retirement years. 

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6 Reasons Your Clients May Have Multiple IRA Accounts

The IRS announced the “one rollover per year” rule in 2014, which is an important rule to keep in mind when planning for multiple IRA accounts. IRC Section 408(d)(3)(B) has been interpreted by the IRS to mean that an IRA owner can only do one 60-day IRA to IRA rollover per year. However, the IRS also reaffirmed that an unlimited number of “direct transfers” can be made when transferring funds directly from one IRA account to another IRA account.

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RMD Planning Options for Clients with Multiple IRAs

At one point or another, you have encountered a client who has multiple IRA accounts that may have been created at different times with different funding products. You may have even recommended two separate IRA accounts to a client, each with different financial purpose for different designated beneficiaries. In either one of these events the US Treasury Regulations treat certain IRA accounts differently when it comes to distributing IRA Required Minimum Distributions (RMD) from these accounts once the client reaches age 70½. 

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Advisors Take Note - Legislation that Could Impact IRAs!

Currently, the US Senate is considering legislation that would eliminate a life expectancy payout for inherited IRAs. 

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Approach to Take With Clients Who Don't Need Their IRA RMDs

Let’s begin to review the way we tend to look at our clients’ IRAs when they don’t need their Required Minimum Distributions (RMDs).

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Are You Ready to Ride the Retirement Income Wave?

In recent years, more Americans have been proactive about making decisions regarding their retirement plans which is causing a surge in sales of retirement income and savings products. Updated research from the LIMRA Secure Retirement Institute projects that the retirement income market will reach $9.4 Trillion for individuals age 55 to 64 and $15.1 Trillion for people over 65 by 2023. Furthermore, they forecast that the IRA rollover market will grow to $550 Billion by 2018!

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[WEBINAR] IRA Wealth Transfer After Tax Reform


We Invite You To Join Us on Tuesday, July 21, 2015 @ 2PM ET

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Design an IRA Legacy Plan With Life Insurance

The equities market is recovering and it is becoming more common for individuals to have over $1 million in their individual retirement accounts (IRAs). As these individuals are approaching their retirement years they are collecting income from multiple sources such as the owner's job, Social Security retirement benefits, K-1 "pass-through" income from ownership of S-corp or LLC entities, and rental income from real estate.

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