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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...
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...
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....
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...
spousal

Spousal Advantages

When it comes to the spouse inheriting the IRA, the spouse gets special flexibility. (This should make you feel good that you’ll be dead...
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...
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...
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...
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...
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...