Tag Archives: Inherited IRA
What to do with your inherited retirement account
For decades, common financial planning wisdom has encouraged almost all-American workers to maximize their contributions to qualified retirement accounts. Indeed, doing so can be a powerful way to reduce your current income tax liability, grow your savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and large,… Read More »
IRAs, Annuities and Guardianship: Providing for Your Minor Children After You Die
For most parents, making decisions regarding guardianship of their minor children is the most vexing part of estate planning. Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible with your children’s inheritance. For example, if you… Read More »
How Does an IRA Fit Into Your Estate Plan?
When you think of IRAs, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries, and you might be surprised to find out that your money could end up with the wrong people or… Read More »
Warning: Don’t Let Creditors Inherit From You
3 Options Available To Surviving Spouses for an Inherited IRA Shocking to most people, the retirement account you leave for your spouse can be seized in a divorce, lawsuit, or bankruptcy. When your surviving spouse receives the inherited IRA, he or she generally has three options: Cash out the inherited IRA and pay… Read More »
