Originally Posted by
Viperstick
Yes, but your heirs will lose the benefit of tax free compounding over a longer period of time. From a Forbes article explaining what would happen to a $1M IRA left to an heir.
Man, I’m hoping I’m not dead when my kids are 46. Not sure of the basis of that graph. At least for a Roth, there’s no way that is even possible. The withdrawals aren’t taxed. Understand the curtailing of the length to 10 years, though.
However, when you read the bill itself, section 401, in which the 10 year rule applies to children which have reached the age of majority, appears to only apply to defined contribution plans.
Check it out yourself...
https://www.congress.gov/bill/116th-congress/house-bill/1994/text#toc-H084B5EBD76DF47C0B895121999E2270E