Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read on to see the protections a trust can offer that a direct designation of the individual would not.
During our current era, divorces are not uncommon, so there are a lot of blended families out there. There can be some estate planning challenges that enter the picture when people with children get remarried. However, the good news is that there are solutions that can be implemented. Communication is a major key when it […]
Giving back provides many benefits, whether in life or at death. The article explores ways of giving back and some of the tax benefits available, both during life and at death. The article provides a couple strategies to maximize the tax benefits, such as grouping deductions and doing a charitable IRA rollover.
Estate planning can seem like something that you will have time to do later on. Indeed, the average life expectancy is 78 years, but this does not mean that you should wait until you are 75 to put an estate plan in place. It is not a very pleasant thing to think about, but we […]
Transferring an ERISA account, like a 401(k), from one spouse to another can have substantial tax benefits, by delaying Required Minimum Distributions or avoiding early withdrawal penalties. However, one cannot simply transfer an account from one spouse to another under most circumstances without triggering adverse tax consequences. A Qualified Domestic Relations Order or “QDRO” avoids those adverse consequences. While a QDRO is most commonly used in a divorce context, divorce is not a requirement. Read on to learn more.