by Joel Roettger | May 29, 2018 | Estate Planning, Retirement Assets, Tax
It pays to read the footnotes. IRC § 408A prohibits direct contributions to a Roth IRA if a taxpayer’s AGI exceeds certain limits. (For the 2018 limits, see the table here). One strategy to circumvent this rule is a backdoor Roth IRA contribution. It works like this....
by Joel Roettger | May 16, 2018 | Estate Planning, Tax
Another increase. The 7520 rate continues to tick up for inflation. For June 2018, the 7520 rate will be 3.4%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence...
by Joel Roettger | May 6, 2018 | Estate Planning
A family member (the “principal”) has given power of attorney to a third party (the “agent”). The principal is now incapacitated, and you have concerns about the agent’s management of the principal’s assets. What do you do? Here are...
by Joel Roettger | May 3, 2018 | Estate Planning, Probate
Tennessee has a statute for that. T.C.A. §§ 32-1-201 and 32-1-202 set forth the exclusive means of revoking a will under Tennessee law. As discussed in a previous post, Section 202 addresses revocation as a result of divorce or annulment. Section 201 lists four other...
