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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

As families learn the implications the SECURE Act will have on their estate planning, those intending to use IRAs to transfer wealth to the next generations may be looking for ways to ease the negative tax effects the new 10-year distribution rule would have on their beneficiaries (Sara Nicholson discusses this rule in her article, “<strong><a href="~/Publications/The-SECURE-Act-Provides-Less-Security-for-Benefici" target="_parent" rel="noopener">The SECURE Act Provides Less Security for Beneficiaries</a></strong>”).  

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Converting from a traditional IRA, which taxes withdrawals, to a Roth IRA, which taxes contributions rather than withdrawals, allows your beneficiary (who must drain the IRA within 10 years) to avoid a hefty tax bill, especially if distributions occur when the beneficiary is in prime earning years and already in a high tax bracket. However, it is important to weigh several factors before making a conversion.

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Once you have addressed your family’s financial and estate planning goals with your attorney and your tax and financial professionals, you will be able to determine if a conversion of your traditional IRA to a Roth IRA, or other Roth strategy, makes sense for you. 

Executive Partner

Beth L. O’Laughlin

Trusts and Estates

Should I Convert My IRA to a Roth IRA?

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