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Ed Slott welcomes you to The Slott Report, your source for IRA, retirement and tax planning information.

Showing posts with label retirement account. Show all posts
Showing posts with label retirement account. Show all posts

Who Gets Your IRA?

Do you have a will, a trust, and retirement accounts? Who will get your retirement assets? Let’s say that your will says that everything goes to your spouse, your trust says that everything goes to your children, and the beneficiary form for your IRA says that everything goes to your spouse and your children equally. Who gets your IRA? It will go...

Spousal Waivers and IRAs

You are married and have an IRA. You know you need to name a beneficiary for those funds. But what if you do not want to name your spouse as the beneficiary? Are you required to name him or her? Under federal law, and IRAs are governed mostly by federal law, you are not required to name your spouse as your IRA beneficiary. You can name anyone you want as the beneficiary. They don’t even have to be a relative. State law will have some impact here, though. If you live in a community property state, you will most likely need to have your spouse...

3 Unexpected Ways Your Retirement Account Could Cost You

When managing your retirement account, you should be aware of the unexpected ways those employer-sponsored or IRA accounts could actually COST you. Jeffrey Levine details 3 of those situations in the article below. Student Aid If you have a child who is already a college student or is quickly approaching that age, chances are you’ve noticed the extravagant...

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