IRA’s

Here’s What Couples Need to Know About Spousal IRAs

1st Feb, 2017

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Here’s What Couples Need to Know About Spousal IRAs

From: www.theentrustgroup.com

With Valentine’s Day around the corner, couples everywhere are gearing up to impress their partners. Buckling down on finances may not be the first things that comes to mind, but maximizing savings for retirement can be a joint effort for married couples who are ready for that phase in their life. Even if one of the spouses is not working, there…

Which comes first: Social Security or IRA withdrawals?

6th Sep, 2016

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Which comes first: Social Security or IRA withdrawals?

From: financial-planning.com

It is a retirement dilemma.

When planning for retirement cash flow, should a client start Social Security as early as age 62, letting individual retirement account money continue to grow, tax-deferred? Or should that client tap the IRA and wait for a larger Social Security benefit?

A client who would receive $1,500 a month at 62 would collect $2,640 a month, plus any cost-of-living…

Can a Wrong IRA Beneficiary Designation be Corrected After Death?

15th Aug, 2016

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Can a Wrong IRA Beneficiary Designation be Corrected After Death?

From: ultimateestateplanner.com

In recent PLRs 201628004 through 201628006, the IRS considered the effect of a state court action that modified the named beneficiary after the death of the IRA owner. In the rulings, the decedent had originally named three trusts as beneficiaries of his IRAs. The trusts qualified as designated beneficiaries under the IRC Section 401(a)(9) Regulations. When his IRAs were moved…

Rules And Requirements For Doing A Qualified Charitable Distribution (QCD) From An IRA

15th Jun, 2016

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Rules And Requirements For Doing A Qualified Charitable Distribution (QCD) From An IRA

From: kitces.com

For nearly a decade, the rules allowing for a tax-free Qualified Charitable Distribution (QCD) directly from an IRA to a charity has been on-again, off-again, a part of the infamous Tax Extenders that would lapse and be reinstated every other year.

With the Protecting Americans from Tax Hikes (PATH) Act of 2015, though, the QCD rules have finally…

ASK THE EXPERT: Answers to Common Questions About IRA Trusts

15th Mar, 2016

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ASK THE EXPERT: Answers to Common Questions About IRA Trusts

From: ultimateestateplanner.com

By: The Ultimate Estate Planner

The IRA Inheritance Trust® (also known as a “Standalone Retirement Trust”, “IRA Beneficiary Trust” or just plain and simple “IRA Trust”) has now been around for over 10 years. The IRS approved this strategy in PLR200573044 and, even though, it’s been around for some time, it’s only now that so many estate planners are starting…

Preparing for the Death of the Stretch IRA

29th Feb, 2016

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Preparing for the Death of the Stretch IRA

From: wealthmanagement.com

What savvy financial professionals can do to protect their clients’ retirement savings.

The term “stretching” an individual retirement account refers to the practice of partially sustaining the tax-deferred status of an IRA when, after the death of the owner, the account is left to a non-spouse beneficiary (typically a child or grandchild or perhaps more than one). Stretching an IRA, or a qualified…

13 Countries With Better Retirement Systems Than U.S.

4th Nov, 2015

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13 Countries With Better Retirement Systems Than U.S.

From: thinkadvisor.com

The U.S. continues to decline in Mercer’s ranking of the world’s pension systems

The United States has continued its decline among countries’ retirement income systems ranked in the Melbourne Mercer Global Pension Index.

Mercer released the results of its 2015 index, which encompasses 25 countries with pension systems at varying stages of maturity – some systems are well established while others, particularly in the…

Extended IRA Quick Reference Guide

20th Jul, 2015

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Extended IRA Quick Reference Guide

From: wealthmanagement.com

Knowing the distribution options available to beneficiaries upon the death of the IRA account holder is the key to using the Extended IRA strategy.

What Is It?

Extended IRA is a concept not a product. It is a way for the beneficiaries of IRAs to ease the tax burden of taking required distributions from inherited IRAs and maximizing the deferral period for the money in that account….

3 Reasons to Avoid an IRA Rollover

1st Jun, 2015

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3 Reasons to Avoid an IRA Rollover
Ahead of the DOL’s final fiduciary rulemaking, advisors need to brush up on when a rollover is not in a client’s best interest

From: thinkadvisor.com

The Department of Labor recently announced it will extend the comment period on its fiduciary rule proposal by 15 days, and it’s not clear when a final rule will be issued. In the meantime, advisors should consider the value they…

What Happens to My IRA When I Die?

28th May, 2015

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What Happens to My IRA When I Die?

From: independenceadvisors.com

Key Takeaways

  • Every situation is as unique as you are, so don’t shortchange yourself with an off-the-shelf, cookie-cutter solution.
  • The beneficiary you designate for your IRA can have a big impact on what happens to your IRA when you pass away.
  • Your age can have a big impact on what happens to your IRA.

“What happens to my IRA when I die?”

It seemed a like a…