McDonald Hopkins Law Firm Alert: Are You Ready to ROTH?

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Thu Nov 12, 2009 10:33am EST 

CLEVELAND, Nov. 12 /PRNewswire/ -- Are you thinking about converting your IRA
to a Roth IRA in 2010? You are not alone. 2010 is the first year that you will
be able to convert a traditional IRA or qualified plan account into a Roth IRA
even if your adjusted gross income is over $100,000.

As a consequence, Roth IRAs are a hot topic. Many financial planning pundits
are touting the marvels of Roth IRAs. Roth IRAs do offer some unique benefits,
but a decision to convert to a Roth IRA should not be based on media hype.

How do you know if a Roth IRA conversion is right for you? Are you ready to
pay the tax on the conversion? Do you know when withdrawals from Roth IRAs are
tax-free? These are just some of the questions that you need answers to before
you are really ready to Roth.

To get you started on answering those questions, this Alert summarizes:
    --  How a traditional IRA or qualified plan account is converted into a
Roth
        IRA
    --  How conversion contributions to Roth IRAs are taxed
    --  How Roth IRA distributions are taxed

    --  How a Roth IRA is distributed after death?


Of course, this general discussion of law and planning concepts should not be
taken as legal advice or as a specific recommendation. You should consult with
your estate planning attorney and other professional advisers to determine
whether in light of your individual circumstances a Roth IRA conversion is the
right strategy for you.

McDonald Hopkins Alert - Are You Ready to ROTH?

http://www.mcdonaldhopkins.com/news.aspx?id=t9cq5k0W5kGidFB61QGq2A

About McDonald Hopkins
With more than 130 attorneys in Chicago, Cleveland, Columbus, Detroit, and
West Palm Beach, McDonald Hopkins is a business advisory and advocacy law firm
focused on business law, litigation, business restructuring, healthcare, and
estate planning. The president of McDonald Hopkins is Carl J. Grassi. For more
information about McDonald Hopkins, visit http://www.mcdonaldhopkins.com.


    CONTACT:
    Deborah W. Kelm
    McDonald Hopkins LLC
    Phone: 216.348.5733
    Email: dkelm@mcdonaldhopkins.com



SOURCE  McDonald Hopkins LLC

Deborah W. Kelm, McDonald Hopkins LLC, +1-216-348-5733,
dkelm@mcdonaldhopkins.com
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