Reduce the Stress of Asset Transfers?
July 15, 2021
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
Downs Law Firm, P.C.
Beneficiary Designations
How Does an Inherited IRA or 401(k) Work?
May 5, 2021
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
My Estate is Beneficiary of My IRA
March 30, 2021
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
How to Make Beneficiary Designations Better
September 8, 2020
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Inherited IRAs Require Careful Handling
August 27, 2020
One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.
What Should I Know about Beneficiaries?
August 11, 2020
When you open a financial account, you’re often asked to name a beneficiary. Simply stated, a beneficiary is someone who is entitled to the benefits of the account on the death of the account holder. For example, if you’ve purchased life insurance, you name a beneficiary who receives the benefits of the policy when you pass away.
Review Your Estate Plan in the Coronavirus Pandemic
June 25, 2020
Many people are taking this time at home during the COVID-19 crisis to update their estate plan. Here are six critical estate plan components you should focus on in light of the current pandemic.
Are My Beneficiary Designations Trouble?
May 27, 2020
Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset if the account owner dies. However, these forms can create confusion, unintended bequests, and family turmoil if not adequately monitored.
Secure Act Passes So Revisit IRA Planning
December 26, 2019
The Secure Act will force faster withdrawals from Inherited IRA Accounts.
Costly Mistakes with 401(k)s
December 17, 2019
This is a big one. The IRS would love for you to take every penny out of your 401(k) when you change jobs for one very good reason: more tax revenue.
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