spousal rollover | Ed Slott and Company, LLC

spousal rollover

Ed Slott's Elite IRA Advisor Group℠ Topics of Conversation - Kansas City

Last week in Kansas City, the Ed Slott team hosted our first in-person training program for members of our Elite Advisor Group since late 2019. While we managed to stay in contact with everyone via virtual meetings for the last two years, it was good to again see people face-to-face. The conversations were lively and interaction among the members during the breaks was spirited.

Inherited IRAs and Spousal Rollovers: Today's Slott Report Mailbag

If the owner of an inherited IRA was required to take RMDs from the IRA prior to his death, can a beneficiary who is younger than age 70 1/2 request QCDs from the inherited IRA?

Another Good Reason to Do a Spousal Rollover

As discussed in the October 18 Slott Report, spousal beneficiaries of IRAs can take advantage of certain payout rules that aren’t available to non-spouse beneficiaries. For example, a surviving spouse who remains a beneficiary can defer required minimum distributions (RMDs) until the year her deceased spouse would have turned age 72. Also, when RMDs begin for surviving spouse beneficiaries, the spouse can go back to the IRS Single Life Expectancy (SLE) Table each year to recalculate her life expectancy factor.

Marriage Has Its Benefits - 4 IRA Rules Same-Sex Couples Should Know

June is PRIDE Month. This June also marks the sixth anniversary of the landmark Supreme Court case Obergefell v. Hodges, which legalized same-sex marriage. In the wake of this decision, millions of same-sex couples headed to the alter over the past few years. Many of these newlyweds, never expecting to see a day when they would be allowed to marry, may not have paid much attention to the special breaks that married couples receive under the tax code. When it comes to IRA rules, spouses have many advantages, and couples in same-sex marriages are no exception. Here are four special IRA rules for spouses that same-sex couples should know about:

Year-of-Death RMD and Spousal Rollovers

There are always questions as to the correct way to handle the required minimum distribution (RMD) for the year of death of the IRA owner. This is especially true when a spouse is the beneficiary. The regulations are clear that even a spouse beneficiary does not get a pass when it comes to the year-of-death RMD. It must be paid out or there will be a penalty. However, a spouse who is doing a spousal rollover by transfer or by treating the account as her own does have some flexibility.

Rollovers, Spouse as the Beneficiary, and Backdoor Roth: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about rollovers, spouse as the beneficiary, and the backdoor Roth.

The 99% Rule for Spousal Beneficiaries of Retirement Accounts

It sounds funny to say, but death is a part of life for all of us. It’s one of the few things that all of us have in common at some point, and it’s one of the few issues that must be addressed in every plan. While every situation is unique and we all have our own goals and objectives, the overwhelming majority of married couples with IRAs and other similar accounts, such as 401(k)s and 403(b)s, name their spouse as their primary beneficiary as part of their estate plans. As such, knowing the rules for when a spouse inherits an IRA is critical for just about every married couple.

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.

Obstacles with IRA Contributions and RMDs: This weeks Q&A

This week's Slott Report Mailbag looks into spousal contributions, IRAs, the IRS guidelines, and RMDs.

Why You May Reconsider Naming Your Trust as Your IRA Beneficiary

IRAs have been around for decades. You may have had your IRA for years. Maybe many years ago, when you established your IRA, you named a trust as the beneficiary and haven’t thought a lot about it since. You likely spent both time and money drafting the trust and were careful to name the trust on your IRA beneficiary form. Here are some reasons why it might be worth it to reconsider that decision.

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