Many people have accumulated a great deal in retirement assets – IRAs, 401(k) plans, and other retirement plans – that have grown in value over the years. Often, those assets are designated at death for children or others. Retirement assets generate “Income in Respect of Descendant.” This means that those hard earned and saved retirement assets are subject to not only estate tax upon death, but also income tax when received by the beneficiary ... a potential DOUBLE TAX. Much of the tax could be eliminated by making a gift of the retirement assets to CRMS.

For more information please contact Renee Ramge.