Search Results for: IRA

Critter Corner: Benefits of Naming a Trust as an IRA Beneficiary

Dear Hayek, I am reconsidering who I should make the beneficiary for my IRA. I heard that there are some advantages to naming a trust instead of an individual. Is this true, and if so, why? Thanks for your help! Benny … [Read more...]

Should You Convert Your Traditional IRA into a Roth IRA?

Q. My husband and I are hoping to retire in five years, and we’re finally ready to do our retirement planning and estate planning. We both have significant amounts in traditional IRAs and are wondering if we should consider … [Read more...]

Critter Corner: IRS Announces Contribution Limits for IRAs in 2022

Dear Hayek, I heard that the Treasury Department has announced inflation-adjusted figures for retirement account savings for 2022. It seems that contribution limits are up for workplace plans. Are they also up for Individual … [Read more...]

What Happens When You Inherit an IRA from a Non-Spouse?

Marty’s brother, Ed, passed away suddenly. He never got married or had children, so he passed everything, including his Individual Retirement Account (IRA), to Marty. During one of the most difficult times in his life, while … [Read more...]

Two New Provisions Make Reverse Mortgages More Desirable

Q. My husband, Bob, and I have lived in Northern Virginia for nearly fifty years and we have no plans of moving. We are original owners of our home and our mortgage has been paid off for nearly two decades now. Our children all … [Read more...]

Critter Corner: IRAs and Taxes in 2020

Dear Ernie and Jannette, As part of my retirement portfolio, I have IRAs. I'd like to make the most of these accounts and save money on my taxes both now and in the future. Do you have any tips that could help? Thanks! Ira … [Read more...]

A New Miracle Machine Can Keep You Alive Even When Your Heart Stops

Q. My husband, Phil, and I have been married for thirty years. We were faced with a heart-wrenching situation recently, when Phil’s father had a heart attack and was on life support in the hospital. He didn’t have an Advance … [Read more...]

Critter Corner: New IRA Rules Close the Loopholes

Dear Commander Bun Bun, I heard that there are some new rules that were proposed by President Obama that IRA owners should know before planning their estate or transferring money between IRAs. Do you know about them and, if so, … [Read more...]

Are IRAs Considered Countable Assets for Medicaid?

Q. My next door neighbor is a retired financial planner. We walk every morning to stay in shape and maintain good health. This morning, I brought up the topic of whether my father’s IRA would be countable if he applies for … [Read more...]

IRA Distributions to Third-Party Special Needs Trusts: Avoiding the ‘Five-Year Rule’

For many parents, the majority of their savings is held in some kind of a retirement account, often an Individual Retirement Account (IRA). At age 70 ½, an IRA account holder faces the Required Beginning Date, when he or she must … [Read more...]

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