Craig Wear, CFP® warns that leaving a large traditional IRA to heirs can result in substantial taxes paid to the government and advises converting the IRA to a Roth as the primary way to reduce that tax burden for heirs.
What's going to happen is you're going to leave this large IRA to your heirs. And what's going to happen is millions of dollars, lots of money in taxes, let's put it that way, is going to go to the government only because you didn't do something about it ahead of time. And the best thing to do about it is to get it converted from an IRA to a Roth.
