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