How do you leave assets to your heirs? Should you leave your growth assets to them via a 401k or IRA?
NO! You shouldn’t do that. Why not?
Because while the growth assets may grow, and may grow nicely, there is thing called the IRS that has a lien on that property. The IRS will inherit a significant portion of the growth you get in your IRA upon your passing.
However, if you leave growth stocks to your heirs OUTSIDE your IRA/401k upon your passing, your heirs will receive them TAX FREE due to what is called the STEP UP IN BASIS.
THus, would you rather your heirs inherit $100k tax free, or $100k taxable to them as ordinary income?
GET ALL MY LATEST BLOGPOSTS:
If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please!
Don’t forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1
Contact me: Josh@heritagewealthplanning.com
GET MY BOOKS:
Both are FREE to Kindle Unlimited Subscribers!
The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It
Strategic Money Planning: 8 Easy Ways To Put Your House In Order
Google +: https://plus.google.com/u/1/108893802372783791910