To preserve the ability to stretch IRA distributions for a beneficiary, that individual must start taking withdrawals based on his/her life expectancy in the year after death. If those required withdrawals don’t start on time,
This great post comes from Jennifer N. Sawday of The California Estate Planning Blog. Her post is titled: Living Trusts Are Revocable And Not An Asset Protection Tool and describes a fundamental (and often misunderstood)
You can plan to have your heirs inherit your IRA assets. Can an IRA keep growing for a century or more? In theory, it can. Some people are planning to “stretch” their Individual Retirement
The below article applies to New Jersey, as well as New York Retirees who have homes in both New York and Florida may be able to reduce or eliminate New York income and estate taxes,
Inheritance and Estate Tax New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s
What is a stretch IRA? Stretching an IRA is simply the ability to have an IRA live longer than the account owner. A stretch IRA is an IRA that uses beneficiary designations to enable assets
Jonathan Alper in the Florida Asset Protection Blog has a great post on how standard off the shelf LLC and estate planning forms by non-experts will generally not protect your assets from lawsuits. A well-conceived
New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s death occurs on or
These days, just about everyone should take care to protect their assets from possible lawsuits or other problems. Here are 13 things to watch out for: 1. Don’t keep money in a joint account, even
The stretch IRA concept is a wealth-transfer strategy that can help you extend the period of tax-deferred earnings on your retirement assets. After the owner of the IRA dies, the beneficiaries will also have the
It’s no secret that retirement accounts come in all shapes and sizes … from the account that is strictly set aside to generate retirement income to an account earmarked for heirs. For those intending to
