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IRA Blog

SPLITTING AND SEPARATING IRAS: TODAY’S Q&A MAILBAG

Question:  Is this a question you can help me with? Client’s husband & Wife had a living trust. Attorney suggested that all holdings be put into the trust or make the Trust the beneficiary. Husband died several years ago, in January, 2018 the wife died. There are two...

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DISASTER RELIEF INFORMATION FROM IRS

A lot has changed in the last six months for certain federally declared disaster areas. The Bipartisan Budget Act of 2018 added relief for the California wildfires and mudslides of late 2017. The Disaster Tax Relief and Airport and Airway Extension Act of 2017...

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YOUR IRA MAY GO TO THE GOVERNMENT, BUT YOU GET THE TAX BILL

Did you know your IRA could be escheated to the state as abandoned property? Not many IRA owners are aware of this possibility, but more and more are facing it. Escheatment - Bigger and Badder than Ever The legal theory of escheatment dates way back. It originally...

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Is Your IRA Safe From Creditors?

Suppose you unexpectedly incur a major liability, from a lawsuit or some other unforeseen cause. Will the funds in your IRA be protected from your creditors? Maybe ... or maybe not. Here are the rules: Federal Law Protection If you own an IRA that you've funded...

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5 Things to Know About Your IRA Agreement

There is a lot of paperwork involved when you open an IRA account. You have to prove to the bank who you are and that your funds are legitimate. There is an account opening form and a beneficiary form to be completed. After you do all of that, then you get a...

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