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Kiplinger
Kiplinger
Business
Craig Kirsner, Investment Adviser Representative

How Roth Conversions Can Help Your Family Avoid an IRA Tax Trap After You're Gone

Rear view of senior couple looking at their family on a hill on a sunny autumn day.

If you have retirement savings in an IRA or 401(k), Uncle Sam is your partner on that money because every dollar you pull out of it is taxed.

Consider this common scenario: One spouse in a retired household passes away and the surviving spouse becomes a single taxpayer, which affects their overall tax liability, even though their income goes down.

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