Wealthy Grandchildren: 401K Conversion Into Roth IRA for Wealthy Grandparents

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Two rather unknown and unrelated pieces of legislation enacted last year without much fanfare create nearly unparallelled opportunities for the affluent to further literally enrich their decedents. The two pieces of legislation deal with raising how much money a person can annually convert into Roth IRA and raising Generation Skipping Transfer Tax exemption. The combination of these two rather seemingly unrelated pieces of legislation enables literally affluent grandparents to leave significant amount of money for their grandchildren free of taxes. Let us see how.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Doron Eghbali, Law Advocate Group, LLP | Attorney Advertising

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