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There is often a lot of confusion when it comes to the post-death IRA distribution rules. Frequently, beneficiaries and/or their advisors believe they are subject to what is called the 5-year rule – meaning they have to empty the inherited account within 5 years after the date of death - when in fact, they may actually have much longer to do so.
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My understanding is the following: Let’s say you have the Barney and Betty Rubble family and that Barney is a...
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I’m all but certain that there is no special provision for using 401K funds to pay off Student Loans but...
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The big issue in the news these days is how to resolve the "debt ceiling" issue. In essence, our legislators are just trying to figure out how much of a loan, as a nation, we can take. As the events of the recent past have taught us, borrowing can be a dangerous game, but when it comes to IRAs, borrowing can be more than just dangerous. It can be a fatal error that can decimate a lifetime of savings.
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I am looking for guidance on the following the situation Let’s say a client names a trust as an IRA...
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The main perk of retirement is freedom. The freedom to sleep in late. The freedom to play golf five days a week. The freedom to talk about the laughs and tears of the last 30 years. This comic illustrates one of the great benefits of retirement...well, along with a safe and secure stack of money to afford you a comfortable, enjoyable trip through your golden years.
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My mother passed away recently and my sister and I are the beneficiaites of her IRA on an equal basis....
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This is an unusual situation and I haven’t been able to find an answer. Perhaps someone else has dealt with...
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[u][b]Facts[/b]:[/u] At retirement, at age 55, client rolled over his 401k plan to a Traditional IRA. This is clients only...
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I am 62. In 2009 and 2010 I converted several stocks from my traditional IRAs into three Roth IRA accounts...
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