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Reply to "DC: Hiring a financial professional to do a Roth conversion analysis"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Unless you have Over $10m in pre tax accounts it doesn’t make sense to do a Roth conversion. Your RMDs will never push you into the highest bracket. If you want to use Roth accounts as inheritance vehicles just convert a moderate amount each year or even a sizable amount in a low income year. Just make sure you have the money to cover the taxes. [/quote] I’d just leave the kids stocks and they can get a step up in basis when they inherit so it’s effectively tax free. [/quote] Completely fine if you’re talking about a taxable brokerage account. But avoid doing this if your “stocks” are in tax-deferred accounts (401k or traditional IRA). Your heirs have to liquidate deferred tax accounts in a 10-year timeframe upon receipt and it will likely be a tax bomb disaster since they’ll probably be in their highest-earning years while middle-aged and working.[/quote]
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