Thursday, October 12, 2017

Book Review: 'The Ultimate Retirement and Estate Plan for Your Million-Dollar IRA' by James Lange


The exceptionally handsome author/attorney/CPA James Lange offers help to readers eager for assistance in surviving the ‘golden years of retirement’: he has written seven books on the subject of secure retirement advice - Retire Secure! Pay Taxes Later, The Roth Revolution, Pay Taxes Once and Never Again, Live Gay Retire Rich, Retire Secure for Same Sex Couples, Retire Secure, The Little Black Book of Social Security Secrets and now The Ultimate Retirement and Estate Plan for Your Million-Dollar IRA. He has also published numerous articles in the major publications on the subject of retirement and estate planning. From his stance as both an attorney and a CPA he knows the arena about which he speaks and just happens to have a mastery of encouraging coaching abilities to match.

His infectious writing style is evident from the opening of his book: ‘As we go to press, we think that it will only be a matter of time before Congress passes a law that could reduce your IRA and retirement plan by one third or more after you die. Though you might think it’s a bold prediction on my part, you should know that I do have a history of predicting tax-law changes. Over the past 20 years, there have been two major changes in the IRA laws. One change created Roth IRAs and the other expanded the “stretch” IRA. I predicted, well in advance, that both of those laws were going to pass. More importantly, I wrote articles in advance of the changes advising clients and readers how to prepare for the changes and how to deal with them after enactment. Many of those readers, as well as my personal clients, derived enormous benefits from the early advice. I hope to do the same thing with this book. This book will show you how the new law that I am calling the "Death of the Stretch IRA" will work, and more importantly, show you the best strategies to dramatically reduce the impact of these devastating changes. I also will make suggestions for what to do between now and when the law passes. On the other hand, as I said above, I cannot predict with 100% certainty how Congress will act, so I will also recommend solutions that will put you in a stronger position if the IRA law stays the same. You win either way.’

James becomes both our confidant and our advisor in this exceptional book. The areas he covers include Pay Taxes Later— Except the Roth Saving for Retirement While Working How the Required Minimum Distributions Work While You Are Alive Spend the Right Money First When You Retire What Happens to Your IRA Under Existing Law After You Die?, Congress Wants to Accelerate Tax on Your IRA After You Die, The Most Flexible and Best Estate Plan for Married Couples, The Secret to Optimizing Your Roth IRA Conversions— Run the Numbers, Using Charitable Trusts to Protect Your Children’s Inheritance, Is Gifting and/ or Life Insurance an Effective Strategy?, and More is Better— The Benefits of Combined Strategies. And as if that list weren’t sufficient he adds ‘8 more ways we can help you get more our of your IRA.’

Rock solid information, easily understandable in James’ hands – this is the man of the hour given what could be ahead of us all. Highly Recommended. Grady Harp, December 16









Editor's note: This review has been published with the permission of Grady Harp. Like what you read? Subscribe to the SFRB's free daily email notice so you can be up-to-date on our latest articles. Scroll up this page to the sign-up field on your right.

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