Browsing articles in "Qualified Plans"

Spousal Rollovers for Younger Surviving Spouses May Be Hazardous to your Health

A recent tax court case determined that Wachovia Bank incorrectly distributed IRA proceeds from a deceased’s estate by rolling it over into the spouses IRA. The Court determined it had no jurisdiction to unwind the rollover, which was made in error by Wachovia stating, once it is rolled over the distributions become taxable. Thomas Ozimkoski [Read the Rest]

Roth IRA Conversion in 2010 2

2010 brings a very unique advantage regarding estate planning opportunities never presented before.  This opportunity deals with a traditional IRA and the ability to convert some or all of the IRA to a Roth IRA.  The law in 2010 provides for a conversion regardless of your earned income and allows for the spreading of the [Read the Rest]

Roth IRA Conversion in 2010 1

2010 brings a very unique advantage regarding estate planning opportunities never presented before.  This opportunity deals with a traditional IRA and the ability to convert some or all of the IRA to a Roth IRA.  The law in 2010 provides for a conversion regardless of your earned income and allows for the spreading of the [Read the Rest]

Retirement Planning Spousal Rollover

Your plan is to leave your retirement benefits to your spouse upon your death, assuming she will do something with them.  Her choices – roll them over to her own retirement plan in an effort to continue the maximum tax deferral, disclaim the benefits so they can go directly to your children, or a Bypass [Read the Rest]

Retirement Planning

LOS ANGELES BUSINESS JOURNAL Vol. 17  No. 19 Reprinted by permission of the Los Angeles Business Journal ™ Good Retirement Planning Requires Staying Abreast of Changes in Laws by Barry Boscoe, CFP The cornerstone for investment building has been the traditional retirement plan.  However, the federal government has decided to reduce these planning benefits for individuals.  Since the mid-1970s, [Read the Rest]

Pension Protection Act 2

The new Pension Protection Act of 2006, which was signed into law on August 17, 2006, creates new opportunities for retirement planning.  Two outstanding features are: (1) non-spousal rollovers from a qualified plan to an Inherited IRA, and (2) charitable contributions of IRAs during lifetime. Up until the enactment of the new Pension Protection Act of [Read the Rest]

Pension Protection Act 1

The new Pension Protection Act of 2006, which was signed into law on August 17, 2006, creates new opportunities for retirement planning.  Two outstanding features are: (1) non-spousal rollovers from a qualified plan to an Inherited IRA, and (2) charitable contributions of IRAs during lifetime. Up until the enactment of the new Pension Protection Act [Read the Rest]

New IRA Distribution Rules

In a surprise turnaround, the IRS has recently issued proposed regulations substantially simplifying the rules for calculating required minimum distributions from individuals’ retirement plans. Historically, determining how to calculate minimum required distributions has confused and perplexed many individuals entitled to receive qualified retirement benefits.  The rules have been less than clear and have been in [Read the Rest]

IRA Rollover

IRS Liberalizes IRA Rollover The IRS continues a trend of liberalizing rollover rules for IRAs.  This case involved the decedant (husband) who owned multiple IRAs and designated his own estate as beneficiary.  He later married and did not change his IRA Beneficiary Designations prior to his death.  This typically creates problems for the surviving spouse, [Read the Rest]

IRA Beneficiary Designation Defeated

IRA Beneficiary Designation Defeated – PLR 200327059 In a recent Private Letter Ruling ltr.200327059, the beneficiary designations did not permit the “Look-Through” provision once the surviving spouse disclaimed a portion of the deceased spouse’s IRA. In this instance, the surviving spouse was the primary beneficiary.  The deceased spouse’s residuary estate was the beneficiary after the [Read the Rest]

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