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
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...
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...
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...
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...
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....
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...
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...
Properly Naming Beneficiaries
The Stretch IRA
The stretch IRA is the ability of the named beneficiaries to spread required post-death distributions over their life expectancy according to the...
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...