Disclaiming Retirement Benefits

In a previous article, we discussed what to consider when naming your retirement plan beneficiary. This article addresses an additional point to take into account if you’ve decided to list your adult children as outright beneficiaries “per stirpes” – meaning that if the adult child predeceases you, his or her children will equally share the predeceased beneficiary’s share. Read More

IRA Charitable Rollover Made Permanent

Thanks to the year-end tax and budget deal which was signed into law by Congress on December 18, 2015, the Charitable IRA Rollover has been made a permanent part of the U.S. Tax Code. The change allows you to transfer up to $100,000 per year of your pre-tax IRA to a public charity without being required to include the distribution in your taxable income. In order to exclude the income, you must forego the charitable income tax deduction. Read More

Naming Your Retirement Plan Beneficiary

You’ve taken the time to list your spouse and children as beneficiaries on your work sponsored retirement plan or IRA (“retirement plan”), but are they listed individually, or as beneficiaries to a trust? The answer is important, because each achieves a very different outcome. Read More

Retirement Beneficiary Designations – Common Mistakes

When is the last time you checked your beneficiary designation forms for your IRA or employer sponsored retirement plan? Even if you think your forms are all set, who you have listed – or not – may surprise you. Some of the most common estate planning pitfalls lay in beneficiary designation forms, which trump the terms of a will. Read More