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Daily Archives:Thursday, August 21, 2014

Using Roth IRAs For Estate Planning Can Minimize Taxes In Florida

August 21, 2014

Most estate planning strategies are aimed at leaving the largest amount of assets as possible for intended beneficiaries. This is why many people in Florida are utilizing Roth IRAs in their estate planning. Although avoiding taking any distributions from traditional IRAs can help to save money for the next generation, many times, at a certain point, it makes sense to partially convert to a Roth IRA if one is aiming to reduce income tax liability.

The problem with traditional IRAs is that they force a person to take out minimum distribution amounts once the person has reached 70-1/2 years of age….