IRA, Aretha Aretha Franklin, Howard Hughes discussed on The Ray Lucia Show
What kind of a stupid deal, you know, the one that really bugs me to be honest with you is the prescription drugs because literally, we pay more for drugs that we manufacturer here than they pay for the drugs. We manufacture here in other countries. Yeah. Well, that's, that's again, all that all goes back to the whole health care debate. Which, you know, it's not likely to happen anytime soon. Anyway, I've got a lot on the. So what are we talking about? I tell you what I, I was thinking about our brains. The, the brain is a terrible thing to waste it is. It's this. I wanna I wanna talk about that. Also. I've done a little more research on Aretha Aretha Franklin's will remember we talked about that a couple of weeks ago last week. It came up. Did we ever get to it? I'm not sure we ever got to it. I did bring it up. But there's evidently found three of them. One of them was handwritten under the couch. Yeah. You did say that. I don't know if we talked to that was like the whole Howard Hughes will, but this is in the state of Michigan and interestingly enough, what I learned is in the state of Michigan. A holographic will does not have to be witnessed a holographic. We won the right yourself. Yeah. It's not an actual hologram or holographic holographic. Yeah. Whatever it's called. What is it called holographic would know could be? That's not my field of expertise nor mine, but. Eight years special teams. No. You can write it out on a on an envelope. I mean, this is in many states is still has to be witnessed by two witnesses. Well, either way, no matter where I think it all has to go through probate. But I thought today that I would start with little strategy session, I love strategy so sit back folks. Relax. The way. Glad to have everybody with us. So yesterday. We talk about the secur- AC in the research, and how they're going to kill the stretch IRA correct it. I guess if it passes one way or another. The stretch is getting, I think this is going to pass. The question is, whether it's the house version or the Senate version. They both they both. They're both proposing to kill the stretch. It's just a question of to what degree one kills it for ten years. You can you have to give distributions out of Reten years, and you get. No exemption, the other one says. No. We'll let you stretch the I four hundred and fifty thousand and then you got five years left. So it's not going to affect the smaller IRA's. You are correct in that. But there's a lot of people have got you know, fairly large IRAs. And we'll have because there's hundreds of thousands of people now have four one K plans, where the asset basis well into the six figures and some in the seven figures. So it is a big deal. It's a big deal. This is for people who inherit this is not for owners like that people who inherit IRA's probably more specifically non spouse inheritors of spouses, have other options, they've got they can roll it to their own or keeping the same, you know payout schedule. So you're, you're correct. This is for, you know, the kids and the grandkids and up with the big jumbo Caraba retirement. Count. And hopefully they don't just go out and spend the money like many of them will. But I got thinking about just some strategically here. All right. So one strategy might be to do something like this..