Reduce the Stress of Asset Transfers?
July 15, 2021
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
Downs Law Firm, P.C.
Retirement Plans
How Does an Inherited IRA or 401(k) Work?
May 5, 2021
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
My Estate is Beneficiary of My IRA
March 30, 2021
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
A Charitable Way to Stretch a Large IRA
March 3, 2021
Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.
Missteps for Divorce and Death
February 22, 2021
After the divorce, Mike logged onto the employer’s benefits system and tried, but failed, to delete Wendy as the beneficiary of his life insurance.
Options to Stretch Out IRA Distributions
November 24, 2020
The SECURE Act killed the stretch IRA but instead of mourning, advisors can help clients make up the loss.
How to Make Beneficiary Designations Better
September 8, 2020
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Inherited IRAs Require Careful Handling
August 27, 2020
One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.
What Should I Know about Beneficiaries?
August 11, 2020
When you open a financial account, you’re often asked to name a beneficiary. Simply stated, a beneficiary is someone who is entitled to the benefits of the account on the death of the account holder. For example, if you’ve purchased life insurance, you name a beneficiary who receives the benefits of the policy when you pass away.
Benefiting from the SECURE Act and CARES Act
June 30, 2020
There have been several law changes that affect IRAs passed since December 2019.
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