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