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Individual Retirement Accounts

Whether you’re just getting started with an IRA or are ready to withdraw, we’re here to help

Clients can transfer an IRA to TCV, roll over a qualified plan, such as a 401(k) or 403(b) to an IRA, or open a new IRA. When it is time to start withdrawing from the IRA, we can advise on the timing and the annual calculation of Required Minimum Distributions. We help clients with Qualified Charitable Distributions, so they can take advantage of the ability to send charitable donations straight from their IRA and benefit from the income tax savings of the gifts without having to itemize charitable deductions on their tax return.

A little context

Traditional IRAs & Roth IRAs

Traditional IRAs first became available in 1974, so many people have contributed primarily to this retirement savings vehicle for their entire working lives. For many of our clients, a significant portion of their accumulated wealth is held in an IRA. 

We also have clients of working age, and family members of clients, who are just getting started on retirement savings and may choose both a traditional IRA and a Roth IRA to hold their savings. We are familiar with the conversion options that allow traditional IRA owners to move assets to a Roth, and we frequently advise our clients of all ages on the ins and outs of Roth conversions and “backdoor” conversions.

It is our belief that investments, trust/tax administration, and asset safekeeping should not be outsourced, in order to control the
quality of our service.

Common IRA Scenarios

Inherited IRAs

An increasing number of clients are beneficiaries who have inherited an IRA from its first owner, or even have inherited from the beneficiary who first inherited the IRA. For these beneficiaries, there are somewhat different rules and distribution timelines to be aware of. We can make sure these rules are observed and penalties avoided.

To add a final layer of complexity, a fair number of inherited and inherited-inherited IRAs are held in trust. We administer trusts holding IRAs, review trust language ahead of time to make sure a proposed trust is properly structured to hold an IRA, and can advise IRA owners considering their options on the pros and cons of choosing to leave an IRA in trust.

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Additional Services

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