Understanding Inherited IRAs and Their Inherent Dangers

Mistakes made with inherited IRAs can be costly and impossible to fix. To minimize a potentially hefty tax bill, make sure to dot your i’s and cross your t’s.

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Retirement assets represent over 34% of all household financial assets in the U.S., estimates show, with the grand total topping $26 trillion. IRA assets represent over $8 trillion of the sum and are the greatest single share class as well as the fastest growing share of retirement assets, due to the aging population and rollovers of 401(k)s and other retirement plan assets.

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Andrew Bass, CPA, CWM, PFS
Chief Wealth Officer, Telemus

As the chief wealth officer, Andrew Bass is responsible for all strategic financial and life management services of Telemus. He works with high-net-worth members to ensure their financial life plans are designed to achieve realistic goals in both the short and long term.