When was the last time your reviewed the beneficiary designation form from your retirement plan, IRA, life insurance policies or annuities? If your answer is typical, you don’t remember. A recent U.S. Supreme Court decision should motivate some people to move this overlooked step higher on their priority list. This particular ruling involved a 401(k)
As of February of 2010, the United States enjoyed more than a month of complete repeal of the federal estate tax. Before its repeal, the federal estate tax was almost as old as the U.S. income tax which required the 16th Amendment to the U.S. Constitution to adopt. The 2010 repeal of the federal estate
Tax attorneys work daily to create income tax schemes that wind up being incomprehensible to most people. Along with this, accountants devise incomprehensible rules and regulations regarding the gift and estate tax. Luckily, the inconsistencies between income tax rules (one part of the Internal Revenue Code) and the gift and estate tax rules (a different
Effective this year, converting from one’s traditional IRA (and other qualified plans, such as 401k, 403b and 457 plans) is available to everyone. There are benefits and burdens of conversion, and the purpose of this article is to provide you with several things you should consider when converting to a Roth IRA. When you convert
A properly funded trust will avoid probate upon your death and provide management of your assets without court involvement should you become disabled or incapacitated. Although your Last Will and Testament may provide that all assets pour over into your trust for further disposition, that is only after they pass through probate. Regarding the assets