Tax-deferred assets can grow for decades if your heirs don't make mistakes.
Written by Kiplinger staff
Posted by Greg Lipinski
You've built up a nice pile of cash in an IRA, but you don't need the money for your retirement. You want to pass on the account to your kids. If all goes as planned, the assets in this tax-deferred account will continue to grow, perhaps well into their retirement. Even your grandchildren could benefit.
But if you want to stretch your IRA tax shelter to last an extra generation or two, your heirs need to follow some very complex rules. Any slip-up could result in accelerating the cash-out and the tax bill that goes along with it.
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