From: www.morningstar.com
Here’s a question I get at least once a week: “I’m dealing with a trust that holds an inherited IRA. Can the trustee transfer that IRA out to the individual beneficiary(ies) of the trust?” The unspoken part of the question is, “….without triggering an income tax?”
The simple answer is yes, in most cases a trustee can transfer an inherited…
From: www.forbes.com
Retirement planning is about more than just saving money – it’s about generating an income plan for spending money. You can break saving for retirement into three main goals: automate savings as much as possible during working years; invest in long-term growth investments with low fees; and stay engaged and employed…
From: REAP, LLC. | Retirement & Estate Advisors & Professionals
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the…
From: www.iamsinc.com
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Act into law. The SECURE Act marks the most significant overhaul to retirement policy in years. And with these changes, comes a need for many people to review, or even revise, their retirement plans. This presents multiple prospecting and marketing opportunities for financial advisors.
In total, the SECURE Act…
From: advisorperspectives.com
The Grinch who stole Christmas is alive and well this year – in the U.S. Congress. Our representatives and senators passed a bill that negatively affects the middle and working class by changing the rules of passing an IRA to one’s heirs. Now adult children who inherit IRAs will be required to drain them within 10 years and pay all…
From: www.kiplinger.com
The SECURE Act is not a done deal yet, but it makes sense to watch it closely because it could affect everything from RMDs to inheritances.
New legislation making its way through Congress has the potential to create significant changes around retirement planning and individual retirement accounts (IRAs). The Setting Every Community Up for Retirement Enhancement…
From: www.thinkadvisor.com
The proposed regs “recompute required distributions from IRAs, 401(k)s, and similar plans,” says former tax attorney Andy Friedman.
The Internal Revenue Service has released proposed regulations to update the life expectancy tables for required minimum distributions from qualified retirement plans, IRAs and annuities.
The proposed regs, which will be published in the Federal Register on Friday and be…
From: kiplinger.com
The IRA contribution limit is $6,000 for 2019. If you are age 50 or over, you can contribute an extra $1,000 as a catch-up contribution.
Good news for retirement savers: The maximum amount that can be contributed to a traditional IRA increased by $500 for 2019. It’s the first increase for the IRA contribution limit since 2013. The…
From: www.thinkadvisor.com
Ed Slott and other retirement experts debate the bipartisan retirement bill’s strict limits on the stretch IRA strategy.
An editorial in The Wall Street Journal criticizing the elimination of the “stretch IRA” in the Secure Act retirement bill is sparking a lively debate among retirement industry officials.
The opinion piece, IRAs in Political Sights, argues that…
From: www.thewealthadvisor.com
Earlier this month, the US Supreme Court released an opinion holding that funds held in inherited IRAs are not “retirement funds” for bankruptcy purposes. In Clark v. Rameker, the Court based this finding strongly on the fact that “nherited IRAs do not operate like ordinary IRAs.”
The Clarks, during their bankruptcy proceeding, argued that an inherited…
Copyright © 2024 • REAP | Retirement & Estate Advisors & Professionals • All rights reserved
(855) 904-REAP • info@retirementestateplan.com
