Getting an insurance is one of those ‘life’ requirements that you should be looking into early in your career, especially now when you are still able to work and earn money. in addition to being better able to pay for the insurance, younger individuals also pay less. This is one of the principles of insurance. Since younger people are less…
Tag: Beneficiary
Ira Distribution Rules At Death Critical Knowledge For Good Decisions
The distribution rules required at the death of an IRA owner depend on several things: 1. Did the IRA owner die before or after the “required beginning date”? 2. Who is the beneficiary? In order to carry out the wishes of the IRA owner, evaluating both practical and estate planning implications of various decisions during the IRA owner’s life is…
Roth Ira Distributions At Death Pitfalls To Avoid
One of the most attractive features of a Roth IRA is the ability to control the timing of the eventual required distributions. However, this ability mandates the withdrawals to be made within a prescribed set of rules. The distribution advantages of a Roth IRA extend beyond the death of the IRA owner. But to make sure the spouse and children…
Designate The Beneficiaries In Your Estate Don T Cause Unnecessary Hardship To Those You Love
It is a sad fact that in our youth orientated culture we often do not take care of basic paperwork in terms of designating our beneficiaries of our estate. It is often not appreciated that even such basic items as pensions and pension plans were seldom discussed or looked into until judgment day , as it may be called ,came…
Who Should Be The Beneficiary Of Your Ira
You have a number of choices when it comes to selecting a beneficiary (or beneficiaries) for your IRA. Some are appropriate. Some are mistakes and can lead to delays and expenses in getting the funds to your desired recipients. Some may even exclude some of your desired beneficiaries. In addition, some elections are for estate planning purposes. Let’s take a…