Tag: Beneficiary Designation

Inherited IRAs

I recommend using this format: John Smith IRA/ Deceased 1/1/2009/ FBO (for the benefit of) Mary Smith as beneficiary. Make sure that the financial institutions gets the titling right not only on the statements it sends to you, but also on the...

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Beneficiary Designations

Beneficiary designation is critical to your estate plan especially when naming who gets the proceeds of your life insurance proceeds and your retirement plans. These funds are transferred directly to the people you name without going through...

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Converting to a Roth IRA

In 2010 the income limitation for converting traditional IRA to a Roth IRA will be eliminated. Furthermore, one half of the conversion income can be reported in 2011 and the final one half of conversion income can be reported in 2012. Whether...

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