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
- What's your "endgame"?
- Scam Artists are Impersonating Social Security Employees
- New Video Teaches Veterans How to Apply for Disability Benefits
- Attention: Do it Yourself-ers! BEWARE!
- Our New Attorney
- People who have lost the ability to sign and those who are sight impaired can still execute wills
- There's No Time Like the Present
- VA Records Accessible online or by App
- Forced Heirship in Louisiana: What You Need to Know
- Who Will Handle My Funeral Arrangements?