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...
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...
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...
distribution of IRA in divorce

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...

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...
titling

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