Much has been said and written about the estate tax. What I’m going to point out to you today is that most people are missing the boat when following what’s going to happen to the estate tax now that the Bush tax cuts are set to expire. There is another aspect of the law that [...]
At the risk of sounding self serving, today I’m going to relate to you a story that occurs in my office too frequently. Regular readers of my column will recall that I commonly write how each state’s tax, trust and estate laws are different, and therefore upon becoming a Florida resident, one should visit with [...]
Many of you have heard about the possibility of converting your traditional IRA into a Roth IRA. As most of you know, traditional IRAs grow tax deferred, although on the withdrawal of amounts from the IRA the taxpayer recognizes ordinary income that he must pay income tax on.
In contrast, Roth IRAs grow tax free and [...]
Several weeks ago I reported on an Illinois case where a condition of inheritance imposed upon a couple’s grandchildren was that they marry within the Jewish faith or that a grandchild’s non-Jewish spouse would convert to Judaism within one year of the marriage. The controversy wound its way through the lower courts and found its [...]
Many investors treat the IRA beneficiary form as an afterthought when opening up an IRA account or rolling amounts over from a 401(k) to an IRA. Don’t fall into that trap. Since IRA accounts were first introduced in the mid 1970s, they have become an increasingly large portion of most family’s net worth.
So your IRA [...]