IRA

Individual retirement accounts or qualified accounts allow for the growth of principal and dividends to be tax-deferred. The client must start taking required minimum distributions (RMD) at the age of 72. 

The beneficiary of an inherited IRA after January 1, 2020 must withdrawal the balance of the IRA within a 10-year timeframe. 

Roth IRA 

Capital appreciation and dividends are tax-free inside of a Roth IRA. Also, there are no requirements to withdrawal the assets at a certain age. 

  • The beneficiary of an inherited Roth IRA after January 1, 2020 must withdrawal the balance of the Roth IRA within a 10-year timeframe. 

Donor Advised Funds 

Interested in philanthropy? Glover Park Wealth will work with you to create a donor advised fund to meet your charitable giving goals. The donor advised fund offers significant advantages over other options and makes giving assets to your charitable causes seamless. 

Pensions

Should you take the lump sum or continue with monthly payments? As a fiduciary, Glover Park Wealth will consult with your CPA or tax advisor on the option that mathematically makes the most sense for you and your family.