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Subject:  Re: Protecting your heirs Date:  7/8/2000  3:42 PM
Author:  lfleb Number:  23176 of 88418

I am dealing with a similar situation with my parents. One piece of advice they were given addresses the taxable status of IRA money vs. strict inheritance. Another factor is where you fit in - above or below the current limit.

From what my Dad has said, the tax consequences with the IRA are OK passing to spouse, but when they pass to children really get 'zonked'. His plan is to withdraw on the IRAs, reinvesting what he does not need to cover expenses so that most of the assets are not in this 'pre tax' state.

Do read up and do see a professional.... it is complicated.

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