IRA/401k LegacyMax
A Wealth Transfer Strategy
You’ve worked hard throughout your life just to get to where you are now. You’ve saved enough in your IRA/401k. You have sufficient income from your pension, social security and investments; you do not need your IRA/401k for additional income.
You feel comfortable now and about your future.
If you’re holding them for your loved ones, maybe it’s time to consider how your efforts can be passed along to them or to your favorite charities.
Tax-Free Wealth Transfer
An IRA/401k Legacy Max is an estate planning strategy designed to optimize the capital you pass on to future generations, by protecting your heirs from costly, unnecessary taxes and time-consuming, expensive, public probate upon transferring your IRA/401k at your death.
For example, suppose you have $100,000 in your IRA/401k, when you die, up to 75% of the value of your IRA/401k may be lost to estate and income taxes!
Could you imagine your heirs or your favorite charity receiving only $25,000 of your $100,000?
Heart-breaking isn’t it?
An IRA/401k Legacy Max strategy can solve this problem and provide your heirs and/or favorite charity with more tax-free funds.
As an example, depending on your age, through Legacy Max, you may be able to transfer your entire $100,000 and trade it for a tax-free death benefit value of anywhere from $150,000 to $200,000—that’s 1 ½ to 2 times the value of your IRA/401k, thus optimizing what you leave to your heirs.
Of course, you’ll have to pay the taxes on the IRA/401k distribution at the time of conversion. You may wish to spread out the taxes over a 5, 7 or 10 year period to reduce the taxes on the IRA/401k.
Upon your death, this optimized death benefit transfers tax-free and probate-free directly to your loved ones or favorite charities.
Just in case…
While you may not anticipate needing to access these funds, Legacy Max do offer valuable liquidity features should an unforeseen circumstance arise. You can access the cash value through penalty-free annual withdrawals of up to 10% (available after the first policy year, subject to tax). Also should your needs change, you have access to an Accelerated Benefit feature which could provide you with funds for your immediate needs.
Utilizing a Legacy Max can be a safe, secure, tax-free and probate-free way to transfer your IRA/401k to your heirs or favorite charities.
Make the most of your legacy… with the IRA/401k LegacyMax!
To learn how LegacyMax may benefit you or your loved ones or favorite charity, click here or call us (810) 714-9021.
