IRA Investment & Tax Planning
planning for your savings to last for generations
Why IRA Planning Matters
For many families, qualified retirement accounts — IRAs, 401(k)s, or similar plans — represent one of their largest assets. Yet without a clear withdrawal and tax strategy, much of that savings can be lost to taxation. Estate & Trust Advisors helps clients across Northbrook and Chicago’s North Shore understand how each decision impacts their long-term wealth, from Required Minimum Distributions (RMDs) to Roth conversions and legacy planning.
How We Can Help You
Multi-Generational IRA Strategies
A Multi-Generational IRA (MGIRA) strategy allows your retirement assets to continue growing tax-deferred across multiple lifetimes. Properly structured, it can provide income for children and grandchildren while maintaining the power of compounding. We help design and implement MGIRA strategies that create financial security for future generations while aligning with your estate and legacy goals.
Required Minimum Distribution (RMD) Planning
Once you reach the required distribution age, RMDs become a central part of your financial picture. We help you:
- Calculate the correct annual withdrawal amounts.
- Choose which accounts to draw from strategically.
- Determine the right timing for distributions.
- Integrate RMDs into your broader retirement income plan.
Roth Conversions and Tax-Efficient Strategies
Roth IRA conversions can be a valuable tool for reducing long-term taxes and creating flexibility in retirement. We evaluate when and how to convert based on your income, tax bracket, and estate goals. By carefully managing conversions and account placement, we help clients create a mix of pre-tax and after-tax assets that support both current and future income needs.
Coordinated Planning with Trusted Partners
Tax decisions don’t exist in isolation. Estate & Trust Advisors works closely with your CPA, attorney, and other professionals to ensure your investment and estate strategies align. Our integrated approach simplifies decision-making and helps you move forward with confidence, knowing your plan is coordinated and proactive.
When should I start planning my IRA withdrawals?
It’s best to begin several years before you reach the required distribution age. Early planning allows for strategic withdrawals and potential Roth conversions that may lower taxes later.
What happens if I miss an RMD?
Missing a required minimum distribution can trigger significant IRS penalties. We help you avoid mistakes by tracking deadlines and managing distributions efficiently.
Can my IRA be inherited by multiple beneficiaries?
Yes. With proper structuring, an IRA can be passed to multiple heirs through a Multi-Generational IRA strategy, allowing continued tax-deferred growth.
Do you provide tax filing services?
We don’t prepare returns, but we work closely with your tax professionals to align strategies and ensure all planning decisions support your financial goals.
