titling

Titling of Inherited IRAs

Given that you’re reading this book and you may not be a CPA or financial advisor, it indicates that you have a strange reading...
too rich

The Problem of Being Too Rich

Unfortunately, although BAPCPA has created an exemption for all types of retirement plans, the exemption for those plans is not unlimited in all cases....
non-spouse beneficiary

Separate Account for Non-spouse Beneficiaries

There are non-tax reasons to create separate trusts for beneficiaries: Individual Life Expectancies Can Be Used. Avoid Beneficiary Disagreements. Maintain Separate Investment Strategies by Beneficiary. Beneficiaries Have Option...
non-spouse beneficiaries

How to Work With Non-spouse Beneficiaries

Non-spouse beneficiaries cannot do IRA rollovers as per IRC Section 408(d)(3)(C). Nor can they use the 60-day rollover rule. However, they can possibly move...
estate planning

Why It’s Not Only Those Over 70½ Who Are at Risk

Retirees of any age with large IRAs must understand that their IRAs can be hit with estate and income taxes when they die. And...
no beneficiary

No Beneficiary

Suppose that the owner of an IRA or company plan dies before his or her RBD without naming a designated beneficiary? The beneficiaries must then...

Why Be Concerned Since the Estate Tax is Supposed to Disappear?

That is not a bet you should make. For even if the tax goes away, the income tax “step-up-in-basis” provision for the most part...
bapcpa

Basic Retirement Account Rules Under Bunkruptcy

Under the new rules of BAPCPA, virtually all types of retirement accounts are now exempt assets in bankruptcy proceedings. This was accomplished by adding...

What is the Estate Tax?

The estate tax is a tax on accumulated wealth. So if you die and you are considered wealthy (by the estate tax rules then...
charities as IRA Beneficiaries

What About Charities as IRA Beneficiaries?

You may think that it’s a nice thing to leave some of your unused retirement funds to charity when you go. Generally, this a...