A Guide to Surviving Spouse IRA Options

In order to explain how a traditional surviving spouse IRA operates, you must first understand how it would work for you during your lifetime. Funds that you have contributed to your traditional IRA investment account are untaxed earnings, and will be allowed to grow with investment income, which will then be taxed together as ordinary income upon withdrawal.

Unless you are disabled or withdraw the funds under some other statutory exemption, there will also be an additional 10% early …

Your IRA or Retirement Account When You Die

This is the first installment in a series that will be printed in this newsletter every third edition to describe the options and details for establishing an estate plan by the owner of these accounts.

IRAs and employer sponsored retirement accounts (i.e., 401K, 403b, etc.) often hold a substantial portion of an individual’s savings upon death. Since the earnings deposited into these accounts, including accrued interest and dividends, are often untaxed or have only been partially…

Understanding the Pros and Cons of a Life Estate

What is a life estate?

life estate is a type of ownership interest in real estate.  Most commonly the life estate is conferred by deed but may also be conferred in a will or trust.  The typical scenario pertains to a parent who wants to “give the house to the kids” for estate and asset protection planning purposes, but retain control over the property. The parent transfers the real estate by deed to the children reserving a life estate for him or herself. The parent is known as the “…