TAX TIPS: IRA/401K

#1 IRA/401K – A Great Tool During Your Lifetime – And Even Better as a LEGACY Tool

Today IRA’s and 401k’s are as recognizable as home ownership. They are smart tools that grow retirement assets during your lifetime. But do you have a strategy for these assets that you either don’t need, or wish to eventually pass to the kids, grandkids or charity? This may pleasantly surprise you: The IRS allows very attractive tax treatment during your, and your spouse’s lifetimes. But beware – the tax advantages after that time shift decidedly in favor of the taxman. So what to do? 

Here’s a thought: As an RAF supporter, you can name the RAF as a secondary beneficiary of your IRA/401k during your lifetime, or any balance remaining in the account after the passing of both spouses. All you need to do is contact your IRA/401K plan administrator with your request. This request can be changed anytime during your lifetime if you so choose. Might you wish to name the RAF as a primary, partial, or backup beneficiary? We’d love to know.

We’ll be sharing other tax tips —  watch this space for other ways to maximize tax advantages while optimizing your wealth. If you have any questions, email us at contact@theraf.org.

Submitted on June 18, 2025.