Retirement Distributions and the Coronavirus

Prior to the coronavirus pandemic, the tax law required individuals to take annual distributions from tax-deferred retirement accounts commencing with the year one reached the age of 72.  This amount, known as a Required Minimum Distribution (RMD), was recalculated annually based on actuarial tables and taken into income over the remaining lifespan of the taxpayer.  [...]

By |2020-08-11T13:47:45+00:00August 11th, 2020|Coronavirus, Retirement, RMD|0 Comments

Can I Protect My IRA Account After My Death?

You have worked hard your whole life to build up a substantial IRA nest egg and want to leave your heirs with a legacy. With a traditional “custodial” IRA, once you (the IRA owner) die, your beneficiaries are free to do whatever they want with your money. They can be responsible and withdraw only the [...]

By |2019-10-18T14:28:21+00:00October 18th, 2019|Estate Planning, IRA, Retirement|0 Comments