Minimum Distribution Planning
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Whether through employer provided qualified retirement plans or through contributions to IRAs, many individuals accumulate significant assets for their retirement years. One of the most significant advantages of accumulating assets in qualified retirement plans or IRAs is the tax-deferred growth that occurs as long as the assets are retained in the account. The minimum distribution rules were established by the IRS to ensure that at some point the tax deferred growth will stop and individuals will be required to take distributions from their qualified retirement plans and IRAs.
Our estate planning lawyers are experienced in advising clients on how to maximize the tax deferred growth opportunities presented by assets in qualified retirements plans and IRAs. Because qualified retirements plans and IRAs often compose a significant part of an individual’s estate, our estate planning lawyers assist clients in appropriately designating beneficiaries to ensure that the right people receive the assets and that the tax deferred growth is maximized.
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