Download or read book Estate Planning for IRAs And 401Ks written by James Blase and published by . This book was released on 2020-05-04 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commentators appear to be almost uniform in proclaiming the demise of so-called stretch IRAs and other defined contribution plan benefits, including 401Ks, after the SECURE Act was signed into law by the President in late December of 2020. Before 2020, designated beneficiaries could receive benefits from IRAs and 401Ks over their entire lifetimes. The new rule, however, is that, with certain exceptions (including a surviving spouses), the IRA and 401K benefits must be paid out within 10 years of the account owner's death. For example, a child having a 30-year life expectancy, who previously could have received the IRA or 401K benefits over 30 years, must now fully withdraw the benefits within 10 years of the account owner's death. Under the new law, not only must all of the tax on the IRA and 401K benefits be paid out much earlier than previously, but the income tax rate payable on the benefits will likely be much higher than it was before, because the taxable benefits will now be bundled into the recipient's or recipients' peak earning years. Written for individuals, advisors and attorneys alike, this new handbook addresses all of these issues, and presents stratgegies for minimizing the new SECURE Act income taxes on IRAs and 401Ks. The book concludes with an examination of drafting strategies attorneys and advisors can utilize for their clients in order to allow them to leave assets in trusts designed to protect their children, not only during the children's minority, but also during their adult years from potential issues such as divorce, lawsuits and estate taxes, all while continuing to minimize the children's exposure to "SECURE Act income taxes." ABOUT THE AUTHOR: James Blase is a 38-year experienced estate planning attorney with offices in St. Louis, Missouri. He is also an adjunct professor in the Villanova University School of Law graduate tax program, and in the St. Louis University School of Law. Jim spent the first 17 years of his legal career with the St. Louis law firms Thompson Coburn (then Thompson Mitchell) and Armstrong Teasdale, the latter where he also served as chair of the firm's Trusts & Estates department. He is a 1981 graduate of Notre Dame Law School, where he served as Managing Editor on the Notre Dame Law Review, and a 1982 graduate of the New York University Law School Graduate Program in Taxation, where he served as Graduate Editor on the Tax Law Review. Jim also owns a Certified Public Accountant certificate from the State of Missouri. The author of over 50 articles for various tax and estate planing professional publications, Jim is also the author of the 2017 book "Optimum Estate Planning: Explanation and Sample Forms," and the 2019 books "Keep it for Your Children: Theodore Roosevelt's 1903 Western Trip," and "St. Jacinta of Fatima: The Good Shepherdess."
Download or read book An Estate Planner s Guide to Qualified Retirement Plan Benefits written by Louis A. Mezzullo and published by American Bar Association. This book was released on 2007 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for the non-ERISA specialist, this practical guide provides expert advice on how to structure benefits from qualified retirement plans and IRAs. Incorporating significant changes made by the Pension Protection Act of 2006 and the final regulations regarding the required minimum distribution rules, it clarifies distribution options, summarizes the rules of defined benefit and defined contribution plans, discusses tax rules, regulations, and penalties, and highlights the dangers of some traditional estate planning techniques. Includes appendices on CD-ROM.
Download or read book Mastering Estate Planning written by Frank Selden and published by 22 Lions. This book was released on 2023-09-19 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attention all Self-Directed Qualified Account (SDQA), Self-Directed IRA (SDIRA), SoloK, or Rollover Business Startup (ROBS) holders! Are you prepared for the intricacies of estate planning specific to these types of accounts? This book is your ultimate resource, providing invaluable knowledge to help you avoid prohibited transactions, distributions, and even account disqualification. The consequences of mishandling the transfer of SDQA assets after the death of the Account Owner (AO) can be severe. But fear not, because this book is here to guide you through the process with clear, concise explanations of the proper procedures, making compliance a breeze. Behind the expertise of this book is the author, a former personal banker who found his passion for SDQAs after a career-altering merger. Enrolling in law school and serving in the military, he later faced a back injury that led him to discover the world of self-directed IRAs and ROBS. Armed with his knowledge and experience, he now shares his insights with you to ensure your estate plan is properly prepared for the seamless transfer of assets when the time comes. Why waste tens of thousands of dollars on unnecessary taxes and legal fees when you don't have to? Just like a brief, six-minute phone call saved a caller from a hefty tax bill, this book has the potential to provide you with the same invaluable advice. Not all professionals possess the answers to the questions tackled in this book, so it's crucial to empower yourself with the knowledge found within these pages. And if you find it helpful, don't hesitate to share it with others who could also benefit. Remember, though, that reading this book does not replace professional advice, and if you require legal assistance with the IRS, seek the services of a qualified professional. Dive into the world of self-directed qualified accounts and the nuances of estate planning, taking control of your financial future. This comprehensive guide will demystify the complexities and ensure a smooth transfer of wealth. Don't miss the opportunity to save thousands and pave the way for a stress-free estate planning process. Key features of this book: - Detailed explanations of the estate planning nuances specific to Self-Directed Qualified Accounts. - Step-by-step guidance to help you avoid prohibited transactions, distributions, and account disqualification. - Insights from a former personal banker and expert in the field. - Real-life examples of how proper estate planning can save you from hefty tax bills. - A roadmap to navigate the complexities and ensure the seamless transfer of wealth. - Sharing-worthy knowledge that not all professionals possess. Master estate planning for your Self-Directed Qualified Account with expert guidance. Prepare for a seamless transfer of wealth and avoid costly mistakes. Empower yourself with invaluable knowledge today!
Download or read book Life and Death Planning for Retirement Benefits written by Natalie B. Choate and published by . This book was released on 1999 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are You Ready Yet written by Michael C. Wittenberg CFP® and published by Xlibris Corporation. This book was released on 2019-07-17 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: From this compact book, learn from a certified financial planner certificant CFP® who has helped hundreds of clients over more than thirty-five years practical estate planning steps you can take to protect yourself and those you love. This book, written in layperson’s words for easy understanding, explains aspects of wills, financial and medical powers of attorney, revocable living trusts, “living wills,” and much more. Learn how to use free tools such as beneficiary designations, POD, and TOD forms (and when not to use them) to avoid the expense, delay, and publicity of probate. Making distinctions among single ownership, joint ownership with rights of survivorship, and trust ownership are essential. This work explains personal retirement plans such as traditional and Roth IRAs, 401(k), and 403(b) employer retirement plans, along with concepts such as tax deferral, pretax, and after-tax contributions, transfers, and retirement plan distribution strategies. Income taxes, capital gain taxes, and estate taxes are also made simple. Michael shows you how to maintain control over your team of advisors while getting the most out of professionals who serve you. Having been a caregiver himself, learn from Michael how you can successfully navigate emotional concerns, preventing and reducing family arguments. Challenges faced by spouses, parents, adult children, caregivers, executors and administrators, heirs, and beneficiaries are highlighted to lighten your burden. Michael’s experience and education provide valuable insights for widows, widowers, and adult children suffering from the pain and fog of bereavement. This unique book combines both helpful tips to solve thorny obstacles you face, without confusing legalese, with an understanding of the feelings individuals and families face on the path from wellness, to illness, death, and while tackling postdeath estate settlement. This book fills a crucial unmet need enabling spouses, parents, and adult children to make wiser decisions while protecting those they love.
Download or read book Estate Planning Strategies written by Jay A. Soled and published by American Bar Association. This book was released on 2002 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book is a guide to help circumnavigate the estate-planning world and specific changes EGTRRA has brought and will sensitize lawyers to the estate planning needs of their clients in a legal environment that is in transition. To assist in the navigation process, many of the nation's top estate-planning experts and practitioners have been assembled to participate in the production of this book
Download or read book IRAs 401 k s Other Retirement Plans written by Twila Slesnick and published by Nolo. This book was released on 2021-06-29 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print.
Download or read book J K Lasser s New Rules for Estate and Tax Planning written by Harold I. Apolinsky and published by John Wiley & Sons. This book was released on 2005-03-04 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete guide to planning an estate under today's tax rules When it comes to your estate--no matter how big or small it may be--you shouldn't leave anything to chance. Proper planning is necessary to protect both your assets and your heirs. Estate Planning Law Specialist Harold Apolinsky and expert financial planner Stewart Welch III know this better than anyone else, and in the Revised and Updated Edition of J.K. Lasser's New Rules for Estate and Tax Planning, they offer valuable advice and solid strategies to help you plan your estate under today's tax rules as well as preserve your wealth. Packed with up-to-the-minute facts, this practical resource covers important issues, such as: * How new legislation will impact inheritances and trusts * Estate and generation-skipping tax planning * The role of wills, executors, and trusts * Treatment of charitable contributions * The do's and don'ts of gifting * Life insurance and retirement planning Filled with in-depth insights and expert advice, this book will show you how to efficiently arrange your estate today so that you can leave more to those you care about tomorrow.
Download or read book IRAs 401 k s Other Retirement Plans written by John C. Suttle and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: IRAs, 401(k)s & Other Retirement Plans helps you make sense of the rules that govern distributions from retirement plans, and avoid the stiff penalties that lurk in the fine print. It covers the different types of retirement plans -- including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities -- and the taxes and penalties that can deplete your nest egg.
Download or read book Estate and Retirement Planning Answer Book written by William D. Mitchell and published by CCH. This book was released on 2008-08 with total page 1284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estate and Retirement Planning Answer Book (2009 Edition) provides expanded coverage of financial and estate planning strategies for implementing individualized solutions for the special problems associated with retaining accumulated wealth for retirement and estate planning purposes. With its comprehensive two-part approach to the complex issues that link retirement planning and estate planning, Estate and Retirement Planning Answer Book (2009 Edition), includes coverage of such topics as the final minimum distribution rules for individual retirement accounts and qualified plan distributions, the use of insurance as a qualified plan asset, and changes in the law to reflect the latest legislation.
Download or read book IRA Benefits Trusts Line by Line written by John C. Sawyer and published by Aspatore Books. This book was released on 2010 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: IRA Benefits Trusts Line By Line provides a concise, easy to navigate path through the myriad and complex rules applicable to the post-death transmission of retirement benefits. The author, a noted expert on estate planning, distills the designated beneficiary and minimum distribution rules into an understandable framework for planning. Using that framework, the book explores and explains the options available to practitioners in stretching out an IRA in order to achieve the maximum income tax deferral. The role of trusts and the estate and income tax rules applicable to naming a trust as a beneficiary of an IRA account are discussed in detail. The book provides drafting tips and identifies drafting issues, along with suggesting possible solutions. The author explains the distinction between accumulation trusts and conduit trusts, and suggests possible uses for each. Finally, a comprehensive form of a trust to be used as the beneficiary of an IRA is provided, along with variations suited to accommodate specific drafting issues and planning goals. The technical language used in the forms is then explained in detail. This book is a must-have for practitioners engaged in estate planning for clients who have significant retirement assets and who want to protect and preserve those assets for their loved ones.
Download or read book Tax Planning for Retirement Savings written by Jd LLM Blase Cpa and published by Independently Published. This book was released on 2023-07-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about income and estate tax planning for retirement savings. The 15 chapters represent different strategies the author has developed since the SECURE Act was passed late in 2019, in order to help advisors and clients minimize the adverse tax effects of the new law. The strategies are derived from various articles the author has published for Estate Planning and Financial Advisor, as well as three other books he has authored since 2020. One of the most important tax themes recognized in this new book is the fact that, as illustrated in chapter II, except at the 37% tax bracket each of the current progressive federal income tax brackets is now reached twice as quickly by a single individual than it is by a married couple. Thus, when it comes to retirement planning for already retired couples, there is a definite "single filer penalty" that must be considered in planning for a surviving spouse. If the interests of the couple's children are also to be considered, another important tax principle is the fact that, under the SECURE Act passed in late 2019, it is no longer possible to defer IRA and 401k fund balances over the lifetime of the couple's children after the couple passes. Instead, the balance in the couple's IRAs and 401k plan accounts must be paid out to the children over the 10 years after the couple passes, years in which the children are likely to be in their peak income tax brackets. The final focus of this book is on minimizing estate taxes on retirement savings, both at the death of the surviving spouse as well as the passing of each succeeding generation.
Download or read book Price on Contemporary Estate Planning written by John Richard Price and published by . This book was released on 2004 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Your Wills Trusts Estates Explained Simply written by Margaret E. Pierce and published by Atlantic Publishing Company. This book was released on 2008 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will help you choose, set up, and execute a will, trust, or estate.
Download or read book The Ultimate Retirement and Estate Plan for Your Million dollar Ira written by James Lange and published by . This book was released on 2016 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Individual retirement arrangements IRAs written by United States. Internal Revenue Service and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book JK Lasser s New Rules for Estate Retirement and Tax Planning written by Stewart H. Welch, III and published by John Wiley & Sons. This book was released on 2019-02-12 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: The popular handbook to estate planning, now updated for 2018 Since its first publication in 2002, New Rules for Estate, Retirement, and Tax Planning has sold more than 40,000 copies, providing a solid, accessible introduction to estate planning for any age or income bracket. Now in its sixth edition, Estate, Retirement, and Tax Planning continues this tradition, covering such topics as trusts, donations, life insurance, and wills in easy-to-understand language that offers valuable insights and solid strategies to help you preserve your wealth and plan your estate so that your assets go where you want with a minimum of taxes and government interference. This comprehensive guide answers such common questions as: How much do I need to retire comfortably? How do I protect my children’s inheritance? How do I ensure planned donations are made after I’m gone? And many more. The Sixth Edition is also fully updated to reflect changes following the 2018 Tax Cuts and Jobs Act, so that you can learn how new regulations could impact your inheritance and trusts. Other notable features include advice on working with elderly parents and introducing financial planning to children and teenagers, in addition to a list of professional advisers and a glossary of estate planning terms. Understand estate planning and obtain solid strategies for growing your wealth Explore asset protection and succession planning strategies Discover how recent updates to the tax code could affect you and your heirs Stay informed of any relevant law changes with an author-managed web site Estate, Retirement, and Tax Planning contains a wealth of valuable information for any adult who needs help planning their financial future, from the established professional heading toward retirement, to the young adult looking to understand the basics. Wherever you are in your journey, use Estate, Retirement, and Tax Planning to ensure your legacy is protected.
