What Is a Stretch IRA?

Estate planning attorneys often help people who want to take things a couple of steps further. You want to craft a suitable legacy to leave behind to your loved ones, but you should also plan ahead for your active retirement years and the twilight years that will follow. When you think about an individual retirement account or IRA, you probably envision a retirement nest egg, and this is the idea behind these accounts. However, if you do not need the assets in your individual retirement account as a senior citizen, your IRA could provide estate planning benefits. There are essentially two different types of individual retirement accounts that are widely utilized: traditional IRAs, and Roth IRAs. The matter of taxation is largely the dividing line between the two types of accounts. With a traditional retirement account, you make contributions before you pay taxes on the income. As a result, the withdrawals are subject to regular income taxes. Things work in the reverse with a Roth indi


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