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...
Income in Respect of a Decedent (IRD)
Understanding the tax deductibility of income in respect of a decedent (IRD) is gaining significance as the baby boomer generation reaches retirement. Many parents...
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...
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...
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...
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...
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...
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...
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...
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....