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Alternate Strategies for Stretch IRA

May 24, 2020

From the Kiplinger website

There are still moves that IRA owners can make to help ease the transfer of their legacy to their chosen beneficiaries and save some money from the taxman.

Over the years, we lauded the stretch IRA as one of our favorite tax-saving moves, to help mitigate the tax bill when nonspouse heirs inherit retirement accounts and build wealth for another generation. But all good things come to an end—starting this year, nonspouse heirs who inherit IRAs are out of luck when it comes to using the stretch. The SECURE Act, signed into law in late 2019, mandates that many nonspouse heirs who receive inherited retirement accounts must empty the accounts within a decade.

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