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