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My will, upon my death, becomes a Testamentary Trust, giving my three grandchildren my estate at ages 25, 30 and...

CC retired in May 2023 at age 79. She worked full time up to the date of her retirement in...

Do beneficiaries subject to the 10-Year Rule who inherited from someone dying on/after their [required beginning date] need to take...

Question: Hi, I have a question regarding solo 401(k)s. Does a solo 401(k) contribution affect the pro-rata rule when considering a backdoor Roth IRA? Best, James

Adult child is the only named beneficiary in mother’s TIRA. Mother passes in 2019. Child opens inherited IRA and receives...

We say in our training manuals that “the SECURE Act obliterates IRA trust planning.” That’s an aggressive word – “obliterates” – but it is accurate. We also shout from the mountain top that every trust created prior to the SECURE Act and named as an IRA beneficiary must be reviewed, potentially rewritten, or scrapped altogether. What was a perfectly effective planning strategy a couple of years ago could be totally useless now. Here’s how and why…

I have 2 clients, who are brother and sister. They both have to cut checks to a law firm. They...

The Internal Revenue Service is allowing people who inherited an individual retirement account after 2019 to skip a required minimum distribution this year, but most still must empty the account within 10 years.

If you’re an IRA beneficiary subject to the 10-year payout period and would have had a 2023 RMD (required minimum distribution), you’re in luck. In Notice 2023-54 issued last Friday (July 14), the IRS said it would excuse those RMDs. The IRS also said it would extend the 60-day rollover deadline for IRA (and plan) account owners born in 1951 who received distributions in 2023 that weren’t necessary because of the SECURE 2.0 change that delayed their first RMD year from 2023 to 2024.

We have dealt with this before, and read extensively, but always appreciate some reassurance when dealing with large transactions. The...