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For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest payout period possible is available for the inherited IRA is

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The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan.

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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the

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Disclaiming an Inherited IRA

Disclaiming an Inherited IRA   A disclaimer is a legal document and formal refusal of an inheritance by a beneficiary.  Disclaimer rules apply to all IRA beneficiaries.  Beneficiaries are not required to accept an IRA (or any portion thereof) and

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Avoid Charitable Contribution Mistakes!

Avoid Charitable Contribution Mistakes!   There are basic donation rules that must be followed when contributing to your favorite charity, but it’s easy for anyone to make a mistake.  Here are just a few common mistakes that many American taxpayers

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Tax Advantages of an IRA

Tax Advantages of an IRA   IRAs and Roth IRAs are both accumulation and distribution vehicles. Traditional IRAs continue to grow tax-deferred and Roth IRAs grow tax-free.   If IRAs are properly set up and administrated, an IRA can become

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Year-End Planning Checklist

YEAR-END PLANNING CHECKLIST   Holidays can be stressful, but take advantage of any travel delays or down time with a cup of cocoa and go over your year-end financial and retirement planning checklist. Yes, reviewing this now can save you

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Time for a Policy Make-Over?

TIME FOR A POLICY MAKE-OVER?   As your financial planning and insurance needs change, it may be time for a policy make-over.  Why consider a policy make-over?  Depending on when you chose your policy, there may be new options that

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Are Your Beneficiary Forms Up To Date?

HAPPY THANKSGIVING!… ARE YOUR BENEFICIARY FORMS UP TO DATE?   While you are giving thanks for all your blessings, it is a perfect opportunity to also take a moment to think about your beneficiary forms. Although a will controls the

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