Many people do not know that making a trust the beneficiary of your IRA or other retirement plan often results in accelerated income taxation. Estates and many trusts and charities must receive the benefits within five years of the owner’s date of death if he or she died before his or her required beginning date ( April 1 of the year after the owner turns 70.5.) If he or she dies after the required beginning date, then the benefit must be paid out over the owner’s life expectancy. These rules typically mean that the beneficiary receives more money in a shorter period of time and thus pays more tax. Read More...
News and Articles
Sunday, July 01, 2018
- Things to Look for in Your Continuing Care Home
- Aren’t I too young to start estate planning?
- Choosing an Estate Planning Attorney over a General Attorney
- Now Open on Select Saturdays!
- Making a Trust the Beneficiary of Your IRA
- Effects of Technology on the Elder Population and the Future of Elder Law
- How do the 2018 Tax Law Changes Affect Me?
- What is the Louisiana Small Successions Act, and how does it affect me?
- Have you or your spouse considered a reverse mortgage?
- Blended Families and Estate Planning