Beneficiary Designated Accounts
Accounts that move to another generation, such as a child inheriting a parent’s IRA account, can create a special type of account called a Beneficiary Designated Account. An owner of a BDA account is subject to different withdrawal rules than an a normal IRA account. Advisors at McRae Capital can make sure you understand your options and make the right choice.
Tax Waivers
Some states, like New Jersey, limit the amount of assets that can be transferred out of an estate account until the final tax return is filed and state taxes are paid. Executors must obtain a state tax waiver before they can distribute the remaining funds to the intended beneficiaries.
A Team Approach
McRae Capital Management will work with your accountants and lawyers to make the process as seamless as possible.