Topic
IRA
195 published works
Wills, Trusts & Estates Prof Blog
More Life Insurance Coverage Can Help Protect Your IRA
Ed Slott, an expert on IRAs, has pointed out that life insurance is not only "the single biggest benefit in the tax code"; it is also "the most cost effective…
Ohio Appellate Insights
Merit Decision: Custodians of Self-Directed IRAs Not Liable for Purchasing Illegal Securities At Direction of Account Owners. Boyd v. Kingdom Trust Co.
“The plain language of R.C. 1707.43(A) requires a person to have some nexus with the sale of illegal securities. The statute does not extend liability to persons whose only involvement…
Ohio Appellate Insights
Oral Argument Preview: Are Custodians of Self-Directed IRAs Liable for Purchasing Illegal Securities? Cynthia Boyd; Thomas Flanders v. Kingdom Trust Company; PENSCO Trust Company; John Does 1-25
Update: On August 9, 2018, the Supreme Court of Ohio handed down a merit decision in this case. Read the analysis here. Read an analysis of the argument here. On…
Wills, Trusts & Estates Prof Blog
IRA Trusts After the Tax Cuts and Jobs Act
There are many individual taxpayers who have accumulated significant wealth in their traditional or Roth IRAs. These assets can be paid out to a particular beneficiary, or they can be…
Wills, Trusts & Estates Prof Blog
Practical Issues Involving Implementing IRA Trusts (from a State Trust Point-of-View)
IRA trusts are often utilized by practitioners in asset protection planning and estate planning. Drafting an IRA trust can be particularly difficult for those practitioners who are unaware of IRS…
Wills, Trusts & Estates Prof Blog
What Your Kids Can Do When They Inherit Your Retirement Accounts
Spouses are usually the intended beneficiary of most retirement accounts. Eventually though, these accounts may be left to a non-spouse beneficiary. If a child inherits one of these accounts from…
Wills, Trusts & Estates Prof Blog
Practical Issues When an IRA Owner Dies
When the owner of an IRA passes away, many complicated legal issues can become problematic for the beneficiary. In many instances, advisors and planners handle these issues inappropriately. The myriad…
Wills, Trusts & Estates Prof Blog
12 Key Factors for Blended Families in IRAs, Qualified Retirement Plans
It is a fairly common practice for clients in blended families to divide their estates so their spouse and biological children never exercise ownership of their estate at the same…
Wills, Trusts & Estates Prof Blog
How to Report a Tax-Free Transfer From an IRA to Charity
If you transferred your required minimum distribution from your IRA to a charity in 2016, your IRA administrator should have sent you a Form 1099-R. Report this transfer on line…
Don't Mess With Taxes
R.I.P myRA: Treasury ending starter retirement account Monday, July 31,
R.I.P myRA: Treasury ending starter retirement account Monday, July 31, 2017 With every story or study on retirement savings, I hope the news will be better. It usually isn’t. Overall,…