Site search

I’m so often thinking of nuances of tax law that I miss the forest for the trees… This is a...

I was married in 2015 and filed MFS.  This filing status made me ineligible to contribute but I was unaware. ...

I inherited two 403B’s from my mother who died in 1993; I was in my forties at the time. The...

Question: I am age 85, and my wife is age 75. If I die first and my wife inherits my IRA, are the required minimum distributions (RMDs) that my wife must take after my death calculated using her age or my age?

Before he transformed into the Incredible Hulk, Bruce Banner once said to his antagonist, “Don't make me angry. You wouldn't like me when I'm angry.” That’s a little how I feel when I hear stories about lazy financial professionals giving bad advice. Not that I’m about to turn green and rip through my clothes, but I do feel my blood start to boil.

Widowed decedent dies in 2020 at age 82. RMDs had begun. Let’s assume 2020 RMD was taken before death. No...

We had a client pass away that had a Living Trust as the beneficiary of his IRA.  His wife predeceased...

I have a client took his Roth IRA, worth $100,000 at the time, and invested it fully into a manufacturing...

You are not alone if you have concerns that your IRA or workplace plan savings could be lost if you are forced to declare bankruptcy or wind up on the losing end of a civil lawsuit. After all, we all count on those savings for a financially secure retirement. Fortunately, there is usually some degree of creditor protection for retirement accounts. Unfortunately, that doesn’t seem to be the case for SEP and SIMPLE IRA plan funds. Those accounts may not always be protected against creditors.

George passed February 2019 and left his IRA to his son, James.  Is it correct to assume that the 2020...