disclaimer

Disclaimer

When people set up beneficiaries for their IRAs, they don’t know what the future holds. Assume a simple situation where the the IRA owner...
ira asset will

IRA Asset Wills

Funds in your IRAs pass outside of your will and are distributed according to beneficiary-designation forms that you fill out when you open the...
gift tax

What is the Gift Tax?

The Congress thought about this solution and they enacted the gift tax rules. Essentially, the gift tax rules limit the amount of gifts you...
income in respect of decedent

Income in Respect of a Decedent (IRD)

Understanding the tax deductibility of income in respect of a decedent (IRD) is gaining significance as the baby boomer generation reaches retirement. Many parents...
distribution of IRA in divorce

Divorce and Distribution of IRA and Retirement Accounts

Given the rate of divorce, it’s critical to address how your retirement assets get handled. The question is “does your spouse have an interest...
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...
protecting nest egg

Protect the IRA Value

Life insurance Earlier, we showed how a large IRA in a significant estate can be burdened with an 86% combined tax (federal income tax, state...
e

Properly Naming Beneficiaries

The Stretch IRA The stretch IRA is the ability of the named beneficiaries to spread required post-death distributions over their life expectancy according to the...
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....

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...