1. Explain what it means to do proper estate planning and the tax considerations that might impact your decisions. 2. Discuss how income taxes might deter your overall IRA planning goals if

1.      Explain what it means to do proper estate planning and the tax considerations that might impact your decisions.

2.      Discuss how income taxes might deter your overall IRA planning goals if they are not properly accounted and planned for in your retirement plan?

3.      Explain the detailed aspects that must be included in a proper IRA plan when it comes to beneficiaries?

4.      The size of an IRA might just as well determine the type of strategy that one would use to plan for its future. How might our strategies change as the size of our own IRA grows over time?

5.      Explain the basics of conversions and what types of scenario’s we might want to look out for when performing a conversion?

6.      Explain the different contribution strategies that might be used to increase the value of an IRA over time.

7.      How might conversions be used to reduce estate and income tax impacts of a retirement plan?

8.      What are some of the strategies commonly used for building capital and extending the Roth IRA?

Professional Development Question

Your Uncle has recently asked you for some IRA planning advice knowing that you recently graduated with a strong knowledge in this area. His specific questions are on his Roth IRA, and how the possible use of a conversion strategy might reduce his estate tax upon his death to his kids, as well as how this might lower the income taxes levied on his estate and contributions to the IRA.

Lay out your answers here as if you were addressing these questions to your uncle in a manner as to convince him to take the right course for his Roth IRA account