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

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...