When I meet with clients to discuss estate planning, I always explain that the documentation that we help put together for them does not override any previously designated beneficiaries on things like ...
This article originally appeared on Moneywise.com under the title: My sister died and left her 401 (k) to me. I could really ...
As was the case with the 2022 proposed regulations, the newly finalized regulations provide that a retirement account owner is treated as having no eligible designated beneficiary if the owner has ...
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Trust Fund vs. Inheritance: Which Is Better for Beneficiaries?
When it comes to estate planning, families often wonder whether it's better to leave behind a trust fund or a traditional ...
Orman begins by categorizing beneficiaries into two primary groups: eligible designated beneficiaries and non-eligible designated beneficiaries. The distinction between the two is important because it ...
LINDA M. JOHNSON, CPA, PhD, is associate professor of accounting at Kennesaw State University in Kennesaw, Georgia. Her e-mail address is [email protected] . RAs have long been a ...
Dear Mr. Premack: My mother-in-law died (90 years old) and left a traditional IRA to her estate. She did not name beneficiaries, she has four sons, but checked the estate box. I keep getting ...
The IRS on April 16, 2024, released Notice 2024-35, which extends previously issued temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified ...
The SECURE Act changed the rules for many individuals who inherited individual retirement accounts. However, even though SECURE took effect five years ago, advisors continue to receive questions from ...
Tax and retirement planning expert Ed Slott discusses the ins and outs of distributions for these frequently inherited investment accounts. The original Secure Act eliminated the stretch IRA and put ...
On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every ...
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