Topic
IRA
195 published works
Wills, Trusts & Estates Prof Blog
What To Do If You Inherit An IRA
Americans have an astounding $7.9 trillion invested in Individual Retirement Accounts (IRAs). If you happen to inherit one of these accounts, take the time to research the requirements for contributions…
The CPA Desk
Contribute to Your IRA for 2016 Until April 18
By Jim Streets
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016…
Elder Law Prof Blog
Illinois Law Professor Kaplan on “Reforming Taxation of Retirement Income”
University of Illinois Law Professor Richard Kaplan responded to my post last week, that questioned the appropriate age to compel IRA distributions, by providing a more in-depth look at the…
Elder Law Prof Blog
Is Age 70.5 No Longer an Appropriate Age to Compel IRA Distributions? What Sayeth Donald Trump?
Under long-standing IRS rules, IRAs and similar retirement accounts created with tax deferred income are generally subject to "required minimum distributions" when the account holder reaches age 70 and a…
Wills, Trusts & Estates Prof Blog
The Elimination of Stretch IRAs
The Senate Finance Committee voted 26–0 to eliminate the stretch IRA for non-spousal beneficiaries. Currently, using a stretch IRA limits required distributions for inherited IRAs, avoiding a substantial tax bill…
Wills, Trusts & Estates Prof Blog
The Impact of Fiduciary Rules on IRA Trusts
Many IRA owners today are naming a trust as the beneficiary, which gives protection to the owner’s loved ones. Trustees of this type of trust, however, should remain cautious…
Wills, Trusts & Estates Prof Blog
House Bill Would Authorize Charitable Life-Income IRA Rollovers
A bill has been introduced in the house that will impact a certain kind of IRA rollover. “A life-income charitable individual retirement account rollover bill (HR5171) (The Legacy IRA Act)…
Wills, Trusts & Estates Prof Blog
Are Gold IRAs A Good Investment?
Are you looking to diversify your retirement portfolio? How about a gold IRA! The price of gold is on the rise, and many people are looking to diversify their investment…
Tax Law for the Closely Held Business
Guaranteeing a Loan to Your IRA? No Way!
Having worked with many families in the administration of their loved ones’ estates, I can report anecdotally that over the last decade, tax-deferred retirement assets have constituted an ever-increasing share…
Wills, Trusts & Estates Prof Blog
Silent Distributions Granted 60-Day Rollover Extensions From IRS
The IRS has released four private letter rulings that will grant an extension to the 60-day rollover period. Typically retirement account distributions may be rolled over into another IRA within…