by Joel Roettger | Jun 28, 2017 | Estate Planning, Retirement Assets, Tax
Is a spousal rollover available when the beneficiary of an IRA is a revocable trust? Surprisingly, in some cases, the IRS says yes. Decedent named a joint revocable trust as the beneficiary of his IRAs. He established the trust with Wife, and the couple funded the...
by Joel Roettger | May 16, 2017 | Estate Planning, Retirement Assets, Tax
When the owner of an IRA or 401(k) plan dies, the plan must pay out over some period of time. This is true regardless of whether the IRA/401(k) is a traditional account or a Roth account. The only exception is when the surviving spouse is named a beneficiary. In that...
by Joel Roettger | May 5, 2017 | Asset Protection, Estate Planning, Retirement Assets, Tax
The IRS has announced the maximum amount an individual can contribute to a Health Savings Account (HSA) in 2018. For individuals with self-only coverage, the HSA limit will be $3,450. For individuals with with family coverage, the limit will be $6,900. In order to...
by Joel Roettger | Apr 17, 2017 | Estate Planning, Retirement Assets
Father, the primary beneficiary of an inherited IRA, dies before the account is exhausted. His Child becomes the beneficiary. Are RMDs now based on Child’s life expectancy? No: If the individual beneficiary whose life expectancy is being used to calculate the...
by Joel Roettger | Apr 9, 2017 | Estate Planning, Retirement Assets, Trusts
Consider the following the scenario: Decedent establishes a trust under his will. Under the terms of the trust, Decedent’s daughter is entitled to all net income. In addition, the trustee, a financial institution, is authorized to distribute trust principal to...
by Joel Roettger | Apr 7, 2017 | Estate Planning, Retirement Assets, Trusts
When naming a trust as beneficiary of an IRA or other retirement asset, it is critical that the trust be recognized as a “qualified trust.” This allows the trustee to stretch out payments from the IRA in a tax-efficient manner, namely over the life...
