by Randy Coleman | Jan 12, 2020 | Beneficiary Designations, Estate Planning, Estate Planning Lawyer, Income Taxes, Individual Retirement Accounts, IRAs, Retirement Accounts, Retirement Planning, Revocable Living Trusts, ROTH IRAs, Stand Alone Retirement Account Trusts |
Why You Need to Act Now to Protect 1/3 of Your Retirement Accounts and Avoid the Negative Impact of the Secure Act! The Setting Every Community Up for Retirement Enhancement Act (from now on the “Secure Act”) became law effective January 1, 2020. You can’t change...
by Randy Coleman | Sep 1, 2017 | Income Taxes, Individual Retirement Accounts, IRAs, Kiddie Tax, ROTH IRAs |
Grandparents may be tempted to leave an Individual Retirement Account (IRA) to a grandchild because children have a low tax rate, but the “kiddie tax” could make doing this less beneficial. An IRA can be a great gift for a grandchild. A young person who...
by Randy Coleman | May 22, 2016 | Beneficiary Designations, Estate Planning, Guardianship, Individual Retirement Accounts, Irrevocable Trusts, Life Estates, No Will, Probate, Retirement Accounts, Revocable Living Trusts, Uncategorized, Wills & Trusts Law, Wills and Probate |
What Are Beneficiary Designations or Transfer on Death Designations? Many people use beneficiary designations as an alternative to doing proper estate planning. Why not? It’s quick and easy! It avoids probate! It allows you to rest easy that you have provided...
by Randy Coleman | Jan 2, 2015 | Advance Directives in Florida, Annuities, Asset Protection, Beneficiary Designations, Designation of Health Care Surrogate, Durable Power of Attorney, Estate Planning, Individual Retirement Accounts, IRAs, Joint Tenants with Right of Survivorship, Life Insurance Protection, Living Will, Personal Representative, Probate, Retirement Accounts, Revocable Living Trusts, Tenancy by the Entireties, Tenancy in Common, Titling of Assets, Trustee, Wills and Probate |
It’s the New Year and everyone has their list of resolutions that probably won’t be followed for more than a month or two. From the estate planning perspective, that is enough time to review and ensure that your estate planning house is in order, if you...
by Randy Coleman | Jul 2, 2014 | Asset Protection, Beneficiary Designations, Estate Planning, Exemption Planning, Individual Retirement Accounts, IRAs, Irrevocable Trusts, Retirement Accounts, Retirement Planning, ROTH IRAs |
A couple of weeks ago, we talked about the landmark, unanimous 9-0 decision handed down on June 12, 2014, in which the United States Supreme Court held that inherited IRAs are not “retirement funds” within the meaning of federal bankruptcy law. This means they are...
by Randy Coleman | Jun 17, 2014 | Asset Protection, Beneficiary Designations, Discretionary Trusts, Income Taxes, Individual Retirement Accounts, IRAs, Irrevocable Trusts, Retirement Accounts, Stand Alone Retirement Account Trusts |
In a unanimous opinion, the U.S. Supreme Court rules that funds held in an inherited individual retirement account (IRA) are not exempt from creditors in a bankruptcy proceeding because they are not retirement funds. Clark v. Rameker (U.S., No. 13-299, June 13, 2014)....
