This week's Slott Report Mailbag comes during an important time. The election is less than two weeks away, and we have devoted an entire week to covering the IRA, tax and retirement planning issues you care about. This week's mailbag includes questions on life insurance, using Roth IRA funds for a first-time home purchase and how to take the required minimum distribution (RMD) for a deceased parent in the year of death.
The unofficial end of summer comes with the Labor Day weekend...where did time go? Time does in fact fly, which makes planning for your future today more important. After all, tomorrow will be here before we know it. This week's Slott Report Mailbag includes questions (and our answers) on the Roth IRA 5-year rules and the best ways to leave an inheritance to younger beneficiaries.
Tax-saving strategies should be on the tip of every financial advisor's tongue throughout 2012. In this video roundtable, we discuss life insurance, annuities (more specifically QLACs), Roth IRA conversions as well as higher taxes (namely the 2013 health care surtax) coming in 2013. Share this video with your clients, your friends and your family so they know what tax-saving strategies to implement and what tax laws to keep an eye on this year.
2014 Retirement Guide Helps You
Ed Slott, America's IRA Expert, talks about a once-proposed (and recently dropped) provision in the Highway Investment Job Creation and Economic Growth Act of 2012 that would have destroyed the Stretch (inherited) IRA. This provision would have killed a financial legacy for beneficiaries. Ed Slott discusses the provision and how it indicates Congress' line of thinking with IRAs, and more specifically, Stretch IRAs. He also mentions proactive planning strategies to simulate the benefits of a Stretch IRA.
Life insurance is not only the single biggest benefit in the tax code, but it is also the most cost effective way to protect a large-balance IRA. Many owners of large-balance IRAs are concerned about protecting IRA values during volatile markets. Life insurance proceeds can do just that with its incredible leverage.
This video takes you behind the scenes of Ed Slott's Retirement Rescue!, his NEW upcoming Public Television Special. The special was taped on Tuesday, December 12th at WMHT studios in Albany, New York.
Life insurance is not only be the single biggest benefit in the tax code, but it is also the most cost-effective way to protect a large IRA. If set up correctly, life insurance proceeds (death benefits) could come into the estate sans estate and income tax.Life insurance premiums should be paid by the beneficiaries or by the trustee of an irrevocable life insurance trust so that life insurance proceeds will be estate and income tax free.
