Retirement Accounts

Interview: Young Adult With Digital Assets But No Will

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It has been said that young adults without significant assets do not need a will.  In response, I present an interview with my friend “F”. F is in her mid-20s.  She has full-time employment and also runs a side photography business.  She is single and childless, but she has a serious boyfriend.  Her divorced parents…

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What is the Federal Estate Tax? Examples Using 2012 Rates

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Everyone Has an Estate For purposes of understanding the federal estate tax, we must first examine the definition of “estate” provided by the U.S. Internal Revenue Code. “Estate” Includes Property Owned at Death Contrary to what seems to be popular belief, every person has an “estate”, whether it’s worth $1 or $100 billion. An individual’s…

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5 Options for Individual Beneficiaries of an Inherited IRA

February 5, 2010 - Paperwork

In this post, we discuss what specifically happens when an IRA account holder dies.  What choices does the individual beneficiary have? Here, we’ll start with the individual (i.e. human being) beneficiary’s options for distributing Traditional or Roth IRAs (other types of IRAs, such as SEP IRAs, SIMPLE IRAs, and Self-directed IRAs, are beyond the scope…

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