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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 […]

Contending With Accelerated Distributions Under The SECURE Act – Disclaimers

By now, most of you are aware of the massive changes made by the SECURE Act to the IRA distribution rules. These new rules affect the beneficiaries of IRAs or other tax deferred retirement accounts whose owners die after December 31, 2019. Under the new rules, most non-spouse beneficiaries must completely liquidate an inherited IRA […]

IRS Issues New RMD Life Expectancy Tables

The Internal Revenue Service recently issued new RMD (required minimum distribution) life expectancy tables to be used by account owners and beneficiaries to calculate RMDs from traditional IRAs and other retirement accounts. The new tables are effective for RMDs taken after 2021. Those who take only the minimum amount required by the IRS each year […]

Inheriting an Inherited IRA – It’s complicated!

In my last post, I outlined the key points to keep in mind when dealing with an inherited IRA. Unfortunately, the discussion may not end there. You may be the successor beneficiary of a previously inherited IRA. In this situation, the IRA or other account was inherited by a prior beneficiary following the account owner’s […]

A Few Pointers About That IRA You Just Inherited.

According to Forbes Online, the largest private transfer of wealth will take place over the next 30 – 40 years as members of the Baby Boomer generation pass their wealth on to younger generations. Some estimates are that $30 trillion will change hands. A large portion of that wealth is held in tax deferred or […]

COVID-19 Bill Eases Rules for Retirement Accounts.

The COVID-19 stimulus (CARES Act) signed by President Trump last week includes some important tax relief for older retirement account owners. First, The required minimum distribution (RMD) rules for Individual Retirement Accounts and 401(k)s are waived for 2020. If you haven’t taken your RMDs for 2020 yet, or have some RMDs left to take, you […]

COVID-19 and Market History.

We are several weeks into the COVID-19 (coronavirus) pandemic. The stock market has been is near free-fall as confusion, panic, and dare say hysteria grip the public. We don’t know how or when this crisis will reach the end of its course. The graph below shows the performance of the S&P 500 from January 1980 […]