SECURE Act Proposed Regulations Impact 10 Year Distribution Rule Bigly!

One of the biggest changes made by the SECURE Act was the imposition of a 10 year distribution rule for certain IRA (and other defined contribution-type retirement account) beneficiaries. This 10 year rule applies when the account owner dies after December 31, 2019. Under the new 10 year rule, most non-spouse beneficiaries must withdraw the […]

Wash Away Debt in Bankruptcy and Keep Your IRA? Yes, You Can Do It.

Financial planning isn’t always about champagne dreams and caviar wishes. For many, it is simply about not drowning in debts after retirement. I recently met with a client to discuss her options dealing with significant credit card debt. She is nearing retirement and did not know how she could make ends meet on a fixed […]

This Might Be a Bit Much: Company Offering 3D-printed Cremation Urns in the Likeness of the Deceased.

A Vermont based company, Cremation Solutions, is marketing a creative new way to memorialize your loved one. Cremation Solutions is producing 3D-printed head shaped urns in the likeness of the deceased. The life sized busts are large enough to hold the ashes of an adult. Short on space? They offer a smaller, “keep-sake” sized urn […]

Skinning a Cat – Company Stock in a 401k Plan

I often work with clients on the cusp of retirement who hold company stock in their employer-sponsored 401k accounts. The client wants to move the account balance to an IRA, but isn’t sure what to do with the company stock and the plan administrator is of little help. The IRS permits tax-free rollovers of company […]

Disinheriting an Heir – To Include Is Not To Exclude.

A recent case out of Nebraska dealt with a question whether a deceased father intended to disinherit his daughter in his will. The case, In re Estate of Michael R. Brinkman, 308 Neb 117 (2021), shows us the importance of clear and unambiguous writing in legal documents, including a will. Michael Brinkman died in 2016 […]