Site search

An interesting question came up recently that went something like this… Mom died with two IRAs. She had two children, who we will call Deborah and Edward. The beneficiary of one of her IRAs was her children, 50% each. The beneficiary of the other IRA was a trust for the benefit of her children. Each child was a 50% beneficiary of the trust. Click to read more about this complicated scenario.

I am over 65. If I convert e.g. $1mm from a traditional IRA to a Roth and pay full income...

Help. The large broker that hold my company 401k is unable to answer this question. I turn 59.5 this year...

Summer is almost here, as the unofficial start to the summer season begins with Memorial Day weekend. To celebrate, we open some IRA, tax and retirement planning mail and answer several of your most pressing questions. This week's Slott Report Mailbag looks at some intricate IRA issues along with a question about the provisions in the new tax law.

Client’s son came to me thinking that he wanted to roll over his 401(k). Two years ago at age 53,...

My 85-year old widowed client inherited two retirement plans from her husband in 2011. I believe distributions were going to...

There are a number of excuses, more formally known as exceptions, that you can use to get out of the 10% penalty and lessen your tax burden. One such exception is for disability. Below, we discuss five important facts you need to know about this exception if you plan on trying to use it to avoid the 10% penalty.

My client died and left her AXA annuity IRA to her 2 stepsons. However, the instructions in Feb, 2011 to...

In a very clean example, may someone who has all of his qualified money in his current employer’s 401(k) plan...

In order to make an IRA contribution, you must be younger than age 70 1/2 for the year and also have wages or compensation from your job. Once you make your IRA contribution, then you have to figure out whether it's tax deductible or not.