The New Problem of Gifting an IRA to Your Children
Giving money to children and grandchildren in our estate plans is one of the more complicated issues in life. Outside of defining the difference between fair and equal, the reality is that we all own a variety of assets: cash, pensions, brokerage accounts, 401(k) and 403(b) retirement plans, and individual retirement accounts (IRAs). And each of these assets has its own tax or legal issues to deal with, so you need to constantly update your estate plan. The Supreme Court recently made a ruling that affects IRAs in a way that might cause you to head right back to your lawyer’s office.