Roth Accounts for Estate Valuation
My wife and I have multiple Roth Accounts. We are each the primary beneficiary for each others accounts. And, we have secondary beneficiaries designated that are our children and grandchildren.
My questions: 1) Are our Roth account amounts, with beneficiaries designated, included in our Federal Estate valuations? and 2) We live in Minnesota and MN has an estate tax that kicks in at 13-16% for amounts greater than $3M. Are our Roth accounts, with beneficiaries designated, included in the MN valuation amount for estate taxes? and 3) We both have Revocable Trusts in place…should we have our Roth accounts in our Revocable Trusts?
Thank you for any comments or references.
Permalink Submitted by Alan - IRA critic on Thu, 2023-07-20 19:24