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A Tale of 3 Cousins and Their Inherited 401(k) Plans

This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.

Options for a Spouse Beneficiary – Remain a Beneficiary or Retitle to Your Own Account?

Warning! The options described here are for spouse beneficiaries named on the beneficiary forms of IRA accounts. Non-spouse beneficiaries and spouses who inherit through an estate have a different sets of rules.

Inherited an IRA with Missed RMDs? This Week’s Q&A

This week's Slott Report Mailbag looks into missed RMDs, inherited IRAs, and QDROs.

IRS OKs Spousal Rollover. . . with a Twist

In recent Private Letter Ruling (PLR 201706004) the IRS allowed a widow to do a spousal rollover, but with an interesting twist that also ruled the five-year rule applied because the IRA had no designated beneficiary.

Community Property and Your IRA: What You Need to Know

What do you get when community property mixes with your IRA? You will discover that the results can be confusing. Here are some facts every IRA owner should know.

Lessons to Learn From Prince's Estate Tax Problem

Most people are aware by now that Prince, the performer, passed away recently at the age of 57. So far, no one has been able to locate his will. Unlike most of us, Prince had a huge amount of assets held personally, in his own name. That means a long probate process and lots of fees for the lawyers. And that’s without any dissension among his family members. Here are the estate planning lessons to learn from Prince's mistakes.

Who Gets the Retirement Money?

It generally takes about 30 seconds to complete a beneficiary form, and that is about all the consideration that is given to the document. Do you realize that the beneficiary form determines who will receive what could be a significant portion of your estate? Learn more about the beneficiary form's power in today's blog post.

How Current is Your Beneficiary Form?

You opened your IRA account 20 years ago and named your spouse as the beneficiary of your IRA. Life has been good for the last 20 years, and you are still married to that same spouse and that same financial institution is still on the corner. But should you still have the same beneficiary form? A lot has changed in 20 years. You've updated your wardrobe and car. And you probably need to update your beneficiary form.

How Many Trustee-to-Trustee Transfers Can I Make in One Year?

This week's Slott Report Mailbag looks at the proper titling on the IRA beneficiary form - and the headaches that ensue when the beneficiary form isn't properly filled out to meet the desires of the deceased and/or their beneficiaries - and answers how many trustee-to-trustee transfers an IRA account owner can do in one year.

Just Another Reason to Check Your Beneficiary Forms

We are all going to die someday. That is pretty much guaranteed. What is not guaranteed is who is going to inherit our “stuff?” We can use a will, a trust, and beneficiary forms. This story is about a man who did not use his beneficiary form.


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