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Individual has: 1. An IRA inherited from her husband for which she chose the spousal option to take as her...

Hello, I’ve been making annual contributions to a Roth IRA for several years, and I’ve just realized my MAGI is...

I am helping a widow of a former police officer who passed away suddenly back in 2004 prior to age...

Question: Hello, I have an inherited IRA which falls under the 10-year rule. I understand that the IRS has tried to clear up the 10-year RMD (required minimum distribution) confusion but I am still not sure which RMD Table I am supposed to use! I am a non-spouse (daughter of the deceased) and it's confusing. Will I need to make up the RMDs for the first two years when the rules were not clearly stated? Thank you,

Considering that it made 92 new IRA and retirement plan changes and is 357 pages long, it’s not surprising that the new SECURE 2.0 law has several unintended drafting errors and lots of unresolved questions. The drafting errors will have to be fixed, either by Congress in “technical corrections” legislation or by the IRS. The first concerns the delay in the age when RMDs (required minimum distributions) must start. The way SECURE 2.0 now reads is that someone born during 1959 will have two RMD ages: 73 and 75.

On today’s webinar for the Secure 2.0 RMD Rules, two questions were asked regarding Inherited Roth IRA’s and the RMD...

Greetings, Last January, 2022 I rolled over my pre-tax lump sum pension of $125,000 (no after tax money was in...

Looking for some clarification 1) Child of participant is under age 21 and participant dies before RBD. Child is required...

I have leftover 529 money in 3 accounts for our 3 children who are the beneficiaries. I’d like to do...

If you want to leave your IRA to an adult, you simply name that person on the IRA beneficiary form. Unfortunately, when it comes to minors, it is not that easy. When a minor inherits retirement dollars, the child is not legally able to make financial decisions. A guardian may be needed. Guardians could be named in a parent’s will, and some IRA beneficiary designation forms allow nomination of a guardian. The court can also appoint a guardian, but this can be a long and expensive process.