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Reply to "If you know you’ll be inheriting a significant amount"
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[quote=Anonymous][quote=Anonymous]OP here. It surprises me that folks aren’t considering it. One of the things we’re trying to think through is that a lot of the funds are in IRAs. With the recent SECURE 2.0 act, that will mean we have to withdraw those funds within 10 years which will almost certainly increase our tax rate. So one of the things my spouse and I have discussed is whether we should do backdoor Roth’s now knowing we’re going to be hit with those taxes later on. As I said we save for our own retirement, but it feels stupid to not consider the impact of a known inheritance down the line….[/quote] We already have Roths, so… We’re wealthier than our parents anyway, so any inheritance will just be a nice surprise. [/quote]
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