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When it comes to teens and money, there is often a disconnect. Overall, teenagers are taking a greater interest in their long-term financial health — although far fewer understand basic retirement planning. A majority, or 83%, of 13- to 18-year-olds, said they had already thought about their retirement, according to the results of a survey from Junior Achievement and MissionSquare.

• Considerations When a Trust (or Estate) Is IRA Beneficiary
• The Current State of the IRA Beneficiary RMD Rules
• Next-Gen IRA Planning with Life Insurance

Considerations When a Trust (or Estate) Is IRA Beneficiary

• Post-Death Administration
• Payout Rules: Trusts
• Payout Rules: Estates
• Taxes

• When a trust or estate is named as IRA beneficiary,

We answer some pretty complex IRA and retirement plan questions. Our newsletters and other Slott Report entries can get into the weeds on some tricky topics. The thing is, when you spend all your time in the deep end, it’s easy to forget there are new swimmers in the shallows, testing the waters for the first time.

Person A (who passed away in 2015 at 80 yrs of age), left his sister (person B) with an IRA....

Relative took a TSP Distribution, received a 1099R and paid tax. Subsequently took the distribution funds and opened up a...

Hello, Say someone had a 401(k) that had a portion designated as Roth contributions. They left the job so they...

Question: Can you please clarify a question I have about whether I should take a Roth IRA withdrawal?  I am much older than age 59 ½, and my first Roth IRA was opened over 20 years ago. I now own a second Roth which holds recently converted funds from my 403(b) account. I am planning to make added Roth conversions over the next couple of years and pay the tax on these conversions. If I make a subsequent withdrawal from my Roth IRA, will it be tax- and penalty-free?

If you’re an IRA beneficiary subject to the 10-year payout period and would have had a 2024 required minimum distribution (RMD), you’re in luck. In IRS Notice 2024-35, issued yesterday (April 16), the IRS said it would excuse those RMDs.

Hi everyone, I’m seeking advice on the tax implications for a client who used a Mega Backdoor Roth strategy. Client...

Notice 2024-35:  No RMDs in 2024 for beneficiaries of IRA owners who died in 2020 through 2023 on or after...