Traditional IRAs
65 this year. Wife 56.
Invested well, but started long before Roth was option and never revisited options/conversions. All has been self directed.
We’ve learned a traditional IRA, if inherited, triggers capital gains, and three of our four are likely to be high earners. The last is 13.
Now wife and I have almost 9.5 mil between our two IRAs. Also have rental real-estate portfolio. Thank Gd, a quality problem, I know.
My thinking is to put everything in family trust, stop taking income, and we live off distributions from my IRA.
Is taking distributions immediately, not logical?
FIDELITY keeps calling to offer help at one percent, but we need a personal advisor that we can trust, motivated only by experience and the right answers.
How to /who can model a path forward? Tax attorney? Accountant?
Thanks for your input.
Back to work.