The Slott Report | Ed Slott and Company, LLC

The Slott Report

Flexibility in an Uncertain Estate Planning World: IRAs and Trusts

We are in a now all too familiar position. We don't know what the estate tax rules will be in 2013. The exemption amount is scheduled to drop back to $1,000,000 per person, and it will not be portable. We have no idea what Congress may or may not do about the situation. And, because 2012 is an election year, they may not do anything until late in 2013 or perhaps early in 2014. Do you need a trust to protect your estate tax exemption, or don't you? Should you name a trust as the beneficiary of your IRA, or not?

Read More Articles

Questions on Trusts as Beneficiaries, Roth IRA 5-Year Rules and NUA Highlight Mailbag

ed slott IRA mailbag
Retirement planning is all about proper decision-making. In this week's Slott Report Mailbag, we answer your questions about important decisions, including who to name as a beneficiary, how to handle Roth IRA distributions and if a certain key tax break applies to a certain situation. Click to read a Q&A with our IRA Technical Consultant.

Read More Articles

Back to School: Educational Expense Exception to 10% Penalty (Part 2 of 4)

Can you believe it? We're now 7 full months into 2012 already. And while there's more fun in the sun to be had before summer comes to an end, August has traditionally signaled the start of the back to school season. With that in mind, we thought we'd spend a little time talking about the educational expense exception to the 10% penalty.

Read More Articles

Loans From 401(k)s: Be Careful!

Over the past several years, as the U.S. economy has been struggling, more employees have turned to their company 401(k) plans for a quick source of cash by taking loans from their plan balance. Many 401(k)s offer a loan feature, in fact some plans make it so easy for employees to get a loan that they offer a 401(k) loan debit card!

Read More Articles

Beneficiary Form Mistakes: How to Avoid Losing Your ENTIRE Retirement Fortune

Ed Slott, America's IRA Expert, details the importance of having a current beneficiary form and describes how missing this key point can be costly for your intended retirement account beneficiaries. This IRAtv video goes through naming beneficiaries, using trusts as beneficiaries and lessons to learn to avoid costly mistakes and keep retirement plans updated.

Read More Articles

Inherited IRAs Are Not Tax-Free Inheritances

In a recent case, a non-spouse beneficiary learned that an inherited IRA is taxable and is not treated as a tax-free “inheritance.” He received a total distribution from his deceased Mom’s IRA and thought that the IRA was an inheritance and not taxable. Accordingly, he never even filed a tax return to show the withdrawal. He was wrong on both points and had to pay the back taxes plus IRS penalties for not filing his return.

Read More Articles

IRA Trust, Transfer and Beneficiary Questions Highlight Mailbag

This week's Slott Report Mailbag really strikes at the importance of proactive planning. One concerned consumer is worried his mother won't receive any of her deceased husband's IRA and others are inquiring on taxes, penalties and transfers. Retirement planning, IRAs and the nuances that come with them are so important to all families. We hope you are enjoying the summer and learn something from the questions, answers and situations below.

Read More Articles

IRAtv: Roth IRA Contribution and Conversion Differences and Limits

Ed Slott answered a consumer question about Roth IRA contributions and conversions in this installment of IRAtv. America's IRA Expert details the differences, limits and processes involved with Roth IRA contributions and conversions.

Read More Articles

Back to IRA School: Educational Expense Exception to 10% Penalty (Part 1 of 4)

Can you believe it? We're now 7 full months into 2012 already. And while there's more fun in the sun to be had before summer comes to an end, August has traditionally signaled the start of the back to school season. With that in mind, we thought we'd spend a little time talking about the educational expense exception to the 10% penalty.

Read More Articles

IRA Beneficiaries, IRA Rollovers, Minor Beneficiaries Highlight Mailbag

Two Slott Report Mailbags in one week?! Yes, we are here a day earlier than normal to answer a few consumer questions (they are piling up) on IRA rollovers, IRA beneficiaries and naming minors as IRA beneficiaries.

Read More Articles

 

Find members of Ed Slott's Elite IRA Advisor GroupSM in your area.
We neither keep nor share your information entered on this form.
 

I agree to the terms and services:

You may review the terms and conditions here.