Inherited individual retirement accounts can be some of the most complex assets to deal with when someone is administering your estate. Federal law states that inherited IRAs for non-spouse beneficiaries are not necessarily protected from creditors, meaning that a beneficiary’s creditors could claim they have the rights to access these funds left behind by you,… Read More »
Posts Categorized: Beneficiaries
Are Your Beneficiary Designations All That Important?
Your beneficiary designations on items such as your individual retirement account or your life insurance policy are critically important for the company to determine who should receive your benefits if something happens to you. Even though this is a pertinent detail of your estate planning, many beneficiary designations are often forgotten, mishandled or overlooked. Many… Read More »
Death Taxes Not Quite So Dead
For the last few years, the rap on the estate tax is that unless you’re extremely wealthy, you don’t have to worry about it anymore. That’s true to some considerable extent. After all, the federal government has exempted most people making less than $5.43 million this year, and many states have gotten rid of or… Read More »
Don’t Assume Your Estate Plan is All Set
So, you have your estate plan in place. If you did it more than a few years ago, have you reviewed it? Does it still make sense for your needs? Are your accounts and beneficiary designations correct? Take some time to double-check and actually schedule a time to talk with your estate planning attorney to… Read More »