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...
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...
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...
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...
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...
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...
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...

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...
inherit IRA

You Inherit an IRA, What Do You Do?

Here are the steps, and we’ll discuss them in order of priority: Separate your portion from other IRA beneficiaries. Retitle the IRA. Name a beneficiary. Move it to...
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...