Inherited IRAS And The 10-Year Rule: Today's Slott Report MailbagQuestion:Hi there!I have a quick question, so I thought I’d reach out to you to get your take on this. This year, IRA RMD’s have been waived, even for inherited IRA’s. That said, if a non-spouse inherits an IRA this year – and the new …
Why You Need a Living Will
Why You Need a Living WillMaking medical decisions for a loved one is extremely difficult, but making end of life decisions for someone is legally impossible without proof of his or her wishes. In New York, nobody may make end of life decisions for another–such as to forgo life sustaining treatments …
How To Prepare Now For The Approaching Crossroad In Estate Planning
How To Prepare Now For The Approaching Crossroad In Estate PlanningWe’re approaching a crossroad in estate planning, and those who might be affected need to take action before we reach it.Few people today have to worry about federal estate and gift taxes, because of the high level of exemptions. But …
8 THINGS YOU NEED TO KNOW ABOUT YOUR INHERITED IRA
8 THINGS YOU NEED TO KNOW ABOUT YOUR INHERITED IRAA significant percentage of IRA assets will ultimately go to nonspouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in. Inherited IRAs are not like other IRA accounts. Here is what you need to know if you inherited an …
Joe Biden’s Tax Plan Explained
Joe Biden’s Tax Plan ExplainedTax policy is one of the more inscrutable parts of American politics, yet it’s one of the areas that impacts the most people on a day-to-day basis. Former Vice President Joe Biden, the Democratic presidential candidate, has released a number of proposed tax policies, …