Summary
Your individual retirement account is a powerful tool to sustain you through retirement. It can be used to enable your children to benefit from the IRA's tax benefits after your death. The vehicle for doing this is a "stretch IRA."
The term doesn't denote a specific type of IRA, but rather a financial strategy to "stretch out" the life and tax advantages of either a traditional IRA or a Roth IRA.See the full content of this document
Extract
'Stretch' Benefits of Ira for Loved Ones
"A stretch IRA is one designed to stay intact after the death of the IRA owner in order to provide another generation of tax-favored growth," said Tom Murphy, a certified financial planner at Murphy & Sylvest LLC in Dallas.
In other words, "to stretch is to ...See the full content of this document
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