New on Forbes.com:
Lange’s Strategy for Grandparents of a Grandchild with a Disability as seen on Forbes.com
When Jim Lange’s father-in-law passed away at age 101, Jim helped redirect his wife’s $500,000 inherited IRA into a Special Needs Trust for their daughter. That single planning move is projected to save the family $1,178,397 in taxes over their daughter’s lifetime.* In his latest article, Jim breaks down the strategy step by step, covering when it applies, how to structure the trust correctly, and the costly mistakes that can compromise it.
*The example cited and any tax savings referenced are for illustrative and educational purposes only and do not represent a guarantee of results. Individual outcomes depend on many factors, including the size of the inherited IRA, future tax laws, trust design, and personal circumstances.