Josh Scandlen Podcast

Bonus 1 - Roth’s Are Included in Estate Tax Calculations Roth IRAs are included in your estate for estate tax purposes.  Yes, the vast majority of Americans will die without owing any federal estate tax.  But if you are one of the couple thousand Americans who have an estate over $20 million at the time of this writing (2018), your Roth will be included.   Now, with that said, everything you own will be included; Your Traditional IRA, life insurance, home, etc.  A Roth is not unique. But it’s important to know that while a Roth is income tax free it’s not estate tax free.  “Ahhh, that’s no big deal Josh, we don’t have anywhere near $20 million.”  I get it.  You may not be that wealthy. But do you live in MA? NY? MN? PA? OR? All of these states, and a host more, have state estate tax and/or inheritance tax.   Roth IRAs will be part of the calculation to determine how much your estate owes in taxes to your state when you pass on.  Massachusetts, for instance, taxes y