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