How You Can Protect Inherited IRAs

Posted by Robert L. Arone – The United States Supreme Court has determined that inherited IRAs are not protected from bankruptcy creditors. Although this development presents a serious risk for clients, it also presents a planning opportunity for financial advisors. How Protecting Inherited IRAs Benefits Financial Advisors If a retirement account is seized in a lawsuit, spent down on frivolities, or wrangled from a beneficiary by a predator, those assets leave your management. On the other hand, if assets remain protected in trust, they remain under your management for a lifetime. The change in law also provides a legitimate reason to contact your clients, review assets, and determine whether there are retirement accounts not yet under your management. And, when you spot a vulnerability, you provide more value and increase your clients’ confidence in your relationship. The Standalone Retirement Trust is the solution because in the absence of any creditor

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