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...
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...
ira trust

Trusts as Beneficiary of IRA

Can a trust be the beneficiary of an IRA? Even though there are no tax benefits, there may be circumstances when you want to name...
ira creditor protection

Creditors and Bankruptcy and Your IRA

When you hold retirement money in a qualified plan, those assets are protected by the Employee Retirement Income Security Act (ERISA). This is a...
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...
spouse beneficiary

If You’re a Spouse Beneficiary

The spouse has more options than a non-spouse beneficiary. Here are the four options: You can rollover the deceased’s IRA to your own. This is...
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...
bankruptcy laws

The Bankruptcy Law

The Bankruptcy Abuse Protection and Consumer Protection Act of 2005 (BAPCPA) simultaneously increased, in some cases substantially, the creditor protection available to retirement accounts...

IRAs—The Missing Link in Many Seniors’ Estate Plans

According to the IRS, 43 million people have $2.7 trillion in retirement accounts. Most of this money will become IRA rollovers, and the dollars...

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...