beverly deveny

Required Minimum Distributions and the Roth Recharacterization Issue

Tuesday, October 20, 2015
When you have an IRA required minimum distribution (RMD) for the year, you generally use the prior year-end IRA account balance to calculate the RMD. There are a couple of exceptions to this rule and Roth recharacterizations are one of them. We provide an example that illustrates why not knowing the RMD rules can be very costly.
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Can I Make This Tax-Free IRA Rollover?

Friday, October 16, 2015
This week's Slott Report Mailbag answers a question about the IRA rollover procedure compared to trustee-to-trustee transfers and examines the Back-Door Roth IRA strategy. Open this week's mail to read the answers to questions about these two key IRA planning processes.
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Important October IRA Deadlines

Friday, October 09, 2015
There are two important dates in October, the 15th and the 31st. Read on to learn more about these deadlines and dates to put on your calendar.
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Converting to an Inherited Roth IRA

Wednesday, September 30, 2015
A question we are frequently asked is, "can I convert my inherited retirement plan funds to an inherited Roth IRA?" The answer is no – and yes. The explain when you can and when you can't in today's article.
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How Current is Your Beneficiary Form?

Tuesday, September 22, 2015
You opened your IRA account 20 years ago and named your spouse as the beneficiary of your IRA. Life has been good for the last 20 years, and you are still married to that same spouse and that same financial institution is still on the corner. But should you still have the same beneficiary form? A lot has changed in 20 years. You've updated your wardrobe and car. And you probably need to update your beneficiary form.
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Who Has an RMD for This Year?

Friday, September 18, 2015
The year-end required minimum distribution (RMD) questions are starting to come in. This one came in from an advisor. Melissa and her spouse Gary both turned age 70 this year. Melissa’s birthday is in May and Gary’s is in September. Who has an RMD for this year?
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What Will Happen To the Stretch IRA?

Thursday, September 17, 2015
This week's Slott Report Mailbag answers questions on the tax "sweet spot" in retirement, the tax and penalty impact on a non-spouse beneficiary's inherited Roth IRA distributions and the future of the stretch IRA.
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IRA Trustee Must Know Answers to These 15 Questions

Friday, September 11, 2015
In most cases, an IRA owner who names a trust as the beneficiary of their IRA names either the spouse or a child as the trustee of the trust. This may not be the best option, especially if they cannot answer the following 15 questions.
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