Many IRA assets will ultimately go to nonspouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in, as inherited IRAs are not like your own personal IRA account. ...
The United States is in the middle of a great wealth transfer. Folks who have built their wealth are now looking to help their children get a head start financially. ...
Estate planning can be one of the most intimidating, complex, and emotionally charged financial necessities a family takes on together. There is little room for error, as savers look to ...
From custodial accounts to trusts, Baby Boomers can take part in the great wealth transfer in ways that won’t burden their kids with extra taxes. We are in the midst ...
Many IRA assets will ultimately go to nonspouse beneficiaries (e.g. children). When these beneficiaries inherit the funds there are special rules that kick in that are important to note. Inherited ...
In this blog, we’ll see how trusts may be used with retirement plans and IRAs. A retirement plan (like a 401(k)) or an IRA may name an individual, a trust, ...
Whether or not we plan to do so, each of us will eventually face death. However, by planning, we can make our passing easier in many ways for those we ...
While organizing their affairs, many people are led to believe by a representative of their local bank that it would be helpful to hold various bank accounts, savings accounts, and ...
New rules for inherited IRAs could leave some heirs with a hefty tax bill. Thanks to recent changes in the law, along with a new interpretation of those changes from the ...
In 2020 and later, options for a beneficiary who is not the spouse of the deceased account owner depend on whether they are an “eligible designated beneficiary.” An eligible designated ...
