In the last year,I have rolled my 401-K into an IRA and have been doing my own foolish investing. I am 52 and after crunching some estate planning numbers, I am delighted to find that my IRA, which is healthy, will not be needed in retirement. So I will have the advantage to foolishly invest for the very long term for the benefit of my grandchildren yet to be born. My question is as follows: As I read the estate tax laws, it seems that if I designate a "next generation" beneficiary, that when I begin forced withdrawls at age 70 1/2, I will be able to minimize them because they will be based on a combination of both mine and the beneficiary's age. And that at my death, the beneficiary receives the IRA with no estate tax penalty, but must continue to withdraw the taxable dollars based on the IRS schedule. But the key to this is that the IRA is not figured into the taxable estate. Do I have this correct??? I have read the regs on the IRS site, and it seems to say this, but one cannot be to careful. Anyones help in pointing me to a definative answer would be appreciated.
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