If you're asking, "what's the process when a trust is IRA beneficiary?", then this article will help you with some foundational considerations to cover when it comes to this confusing topic.

The SECURE 2.0 law adds several new in-service withdrawals that can be made from 401(k), 403(b) and 457 plans. The law also relaxes some of the rules for traditional hardship withdrawals from these plans.

IRAs are an important, but often overlooked, part of your overall tax planning. As the deadline for filing 2023 tax returns approaches, it is a good time to incorporate your IRA plan strategies with your overall tax plan.

Congress has determined that 401(k) and other company plan funds, with certain exceptions, should be saved for retirement. It has imposed strict restrictions on the ability of employees to withdraw from these plans while still working.

If you don’t like where you’re at, do everything in your power to change it, because fantasyland retirement will not mystically appear at age 65. By sticking to the long-term plan, short-term gratification opportunities should present themselves.

The start of the new year is a good time for a refresher course on the contribution limits that apply when someone is in two different retirement plans at the same time or at different times within the same year.

How can those who are impacted by a disability—whether personally or through a loved one— find financial relief? The federal government provides a number of tax deductions and credits related to a variety of disabilities.

In less than 26 months, nearly two dozen TCJA provisions are slated to expire unless Congress intervenes. The ramifications? We stand at the brink of one of the most impactful tax reconfigurations in recent memory.

Beginning in 2023, SECURE 2.0 allowed for employer contributions to be made to Roth accounts. But few plans have offered Roth employer contributions because of the need for recordkeepers to adjust their systems and because of the lack of IRS guidance.

SIMPLE IRAs are designed to be administratively easier than 401(k) plans. However, the rules governing SIMPLE IRA plans are confusing. In some cases they are treated like IRAs, and in other cases they are treated like workplace plans.

Thinking of opening up a new solo 401(k) plan for 2023? Thanks to SECURE 2.0, you don’t have to rush to get it done by year end.

A Health Savings Account is a tax-advantaged medical savings account that helps people pay for qualified out-of-pocket medical expenses. What are the withdrawal rules for HSAs? Are there special considerations that must be taken into account?

Section 327 changes the distribution rules for spouse beneficiaries of IRA (and workplace plan) account holders and is effective January 1, 2024. The result is that some of these beneficiaries will actually be in a worse position than they are in under the current rules.

Last week a federal court jury found that Baltimore’s ex-top prosecutor, Marilyn Mosby, lied on the application form when she requested two CRDs totaling $80,000 from the city’s 457(b) plan in 2020.

An estate can become the beneficiary of a person’s IRA in a couple of ways. First, the estate could be named outright as the beneficiary on the beneficiary form. Another way an estate can become the beneficiary of an IRA is if no beneficiary is named at all.

You may not be familiar with the tax code’s “same-property rule” that applies to IRA-to-IRA (and Roth IRA-to-Roth IRA) rollovers. The rule requires that the property received in an IRA distribution must be the same property that is rolled over. Violating the same-property rule results in an IRA distribution becoming ineligible for rollover and therefore taxable.

A lump sum buyout is a limited opportunity for former DB plan participants to elect a one-time cash payment in exchange for giving up future periodic payments. Why was it turned down?

A QCD is a distribution from an IRA that goes directly to a qualifying charity and is not included in the taxable income of the IRA owner. A QCD cannot be made from an employer plan. A QCD can be up to $100,000 a year, per individual.

Taxpayers naturally seek to use benefits offered in the Internal Revenue Code. Sometimes, though, Code provisions offset each other, reducing the expected tax savings. Fortunately, savvy planning can help seniors receive the best of both worlds.

Unlock expert insights into special needs financial planning with Arcadia Berjonneau-Keane's video series. Learn key strategies for securing your child's future now.

The Ed Slott team answers thousands of IRA and work plan questions annually. Here are 10 IRA and work plan topics that you may have stumbled across yourself.

Rollovers from work plans like a 401(k) to an IRA are as common as air travel. Typically, pre-tax dollars are moved into a traditional IRA, and any Roth dollars in the work plan are rolled to a Roth IRA.

When an IRA or retirement plan owner reaches a particular age, that account owner typically must begin taking required minimum distributions. Of course, there is a parade of variables to consider.

The IRS gives employer plans two more years to comply with the controversial SECURE 2.0 rule requiring “catch-up contributions” for high-paid employees to be made on a Roth basis. The effective date of the rule has been postponed from January 1, 2024 to January 1, 2026.

Explore 457(b) plans: rollovers, creditor protection. Know differences in governmental and top hat plans for a secure retirement. Read more.

While celebrating, same-sex couples may want to take this opportunity to consider plans for their retirement accounts. Since the SECURE Act and SECURE 2.0 have overhauled the rules, it may be time for a new strategy. Here are 5 retirement account planning tips.

Another option is to keep your funds in the plan. Keep in mind, though, this may not always be possible. With that in mind, here’s several reasons why you may want to keep your plan funds where they are.

If you created your trust before 2018, and named your trust as the beneficiary of your IRA, you NEED to review it now. What was a perfectly effective planning strategy a couple of years ago could be totally useless now.

A QDRO is a state court order obtained by divorcing couples that requires a company plan to pay a portion of the benefit of the spouse participating in the plan to the other spouse.

Employees with very high compensation cannot have their retirement plan benefits based on all of their pay. Instead, the tax code allows only compensation up to a certain dollar amount to be taken into account.

As we get deeper into the new year, make sure that you have your financial plans in order.

SECURE 2.0 has changed the way that employer contributed accounts are maintained. Read more to see how.

SECURE 2.0 has changed the way RMDs work in retirement planning. Read to see these changes.

This article contains questions asked by members of Ed Slott's community that are answered by members of his staff.

Retiring is both an exciting and emotional time for everyone, and public safety employees are no exception.

SECURE 2.0 brings changes to RMDs in regards to Roth IRAs. Read how in this article.

When it comes to rollovers from 529 plans to Roth IRAs, there are new regulations when it comes to SECURE 2.0.

Delaying RMDs can be a beneficial step in successful retirement planning. See how things have changed under SECURE 2.0.

A look at the estate tax advantaged trust, the Intentionally Defective Grantor Trust.

Before the real estate agent hands you the keys and you enter your brand-new abode, find a loan that accommodates your income, spending habits and more.

ERISA-covered plans have certain rights for spouses to access some of the participant's account benefits.

Developing and offering a 401(k) plan for your employees is no easy feat, but working with a trusted advisor can take some stress off your shoulders.

This article contains changes made to retirement accounts from SECURE 2.0, more specifically in the 401(k) category.

Choosing a financial advisor in California? Ask these 10 questions to ensure expertise in IRA distribution planning. Make informed decisions about the future!

Your employer may offer you a Roth 403(b) plan. Before you start contributing, it’s important to understand where your money’s going and the tax implications this type of account will have on you now and into retirement.

When considering limits in your retirement plan, it can often get confusing to understand how they operate. This article clears the air on this subject.

Like a traditional IRA or 401(k), a 414(h) plan lets you save money for your retirement while also providing you with some tax benefits.

Many contribution limits have been increased for 2023. Read this article to find out all the details regarding these changes.

With the multiple plans available to retirement planners, it can be daunting deciding which one is right for you.

SECURE 2.0 is designed to increase savings in IRAs and company plans for retirement planners and savers.

Shopping for life insurance can be confusing. Choose a plan that is the best for you and your family with these five top considerations.

Should frugality be a cornerstone of your retirement savings plan? Before changing your quality of life today for your future retirement goals, here's what you should consider first.

Surprise! Retirement is an exciting & validating time but there are many surprising facts that you may not be aware of when planning. Take these 6 things to heart.

Being an estate executor is an important role to take on and it's important to understand your roles and responsibilities. It's not a task to take lightly but here are the top 5 duties to be aware of and what you absolutely need to know.

Estate planning is an important part of protecting yourself and your loved ones in the event you are unable to make important decisions for yourself. Make sure to review these 4 areas of your plan.

When it comes to estate planning, more specifically naming a beneficiary in your will, there are more alternatives than you might realize.

This article provides high-level details about what a 1031 Exchange is and when a person should consider one for their investment and real estate strategies.

Having an HSA is crucial for the retirement planning process, so make sure that you understand the rules for HSAs.

Retirement planning is about much more than just saving. It's time to create a more detailed plan towards a retirement date you can live with.

The government is attempting to strengthen retirement plans so that they last.

Solo 401(k)s allow you to gain benefits as both an employee and employer, but there are some drawbacks.

While there are many tricky aspects to financial planning and retirement funding, here are some that are straightforward and greatly beneficial.

Whatever your reason for giving this year, it’s important to know how your charitable contributions can impact your financial plan. In fact, being strategic and intentional in your charitable contributions can create tax benefits for both you and your chosen charity.

This article will be about the unique considerations and tactics that military families should keep in mind when approaching retirement planning.

Each pension plan has their pros and cons, which one is right for your situation? Find out here.

Retiring early to become a full-time caregiver is a huge life milestone and requires careful planning. Read more here.

You want to enjoy your retirement, which is why it's so important to start planning now. Top stress-reducing tips on when planning for your future.

Vesting rules are used to give a benefit amount according to how long you've been with a company. Find out how to calculate yours!

Is it time to update your health insurance coverage? Starting November 1, you'll have a limited window to do so. Here's what to consider about changing your coverage.

The three financial plans discussed here encompass what to expect when putting away money for retirement. Find out how they differ!

Use this article to help your clients think about and review their homeowner's insurance policies as part of a solid financial plan.

Estate planning isn’t a fun topic to think about, but it’s important to have everything in order. Learn about some of the most important documents to include in your estate plan.

This article will use the fact that October is Financial Planning Month as a springboard to educate readers on general financial planning tips.

Inflation can have a detrimental effect on retirement savings. However, there are several approaches you can take to protect your retirement from inflation. Here's how.

Help your clients and contacts to understand the whens and wherefores of adjusting their retirement strategies with our new article.

ERISA is a federal tax and labor law that establishes minimum standards for pension plans in the private industry. Read how it applies!

A lump sum buyout offer is a limited opportunity for defined benefit plan participants, but don't let the scarcity of it let you feel compelled to act on it without first understanding it.

Roth IRAs are an incredible way to build tax-free money for retirement, and now more 401(k) plans offer Roth contributions. Find out how to withdraw from these without penalty.

Get familiar with your state’s estate laws so you’re well aware of which rules apply to you.

Depending on who your employer is, you may not have access to common retirement plans like 401(k)s. Here's a breakdown of 403(b) and 457 plan options to help you strategize for retirement.

Strategizing how you can use RMDs at a time that is most beneficial to you takes knowledge that this article will help you gain.

You know you need to start preparing now for a peaceful retirement, but sometimes it's hard to know where to start. If you're uncertain about your next steps, here are 6 things to start doing differently right now.

You've imagined your dream retirement, but how can you know if you’ll be able to afford it? Estimating your Social Security benefits is an important component to any retirement plan.

Putting together an estate plan can feel overwhelming, but it's an integral part of seeing your final wishes through. Take time to sort through each of these items with your financial advisor to help keep your estate and your loved ones well-organized and prepared.

Looking for an estate planning financial advisor? Here are 9 important questions to ask during the estate planning process.

You don't have to have millions in the bank to benefit from establishing a trust. Learn the truth about trusts the surprising advantages you could be missing out on.

Help your clients better understand life insurance and its place in their financial strategy.

Helping your clients with the year-round effort to maintain your tax strategy.

Did you know you may be able to take your 401(k), 403(b), or 457 plan and roll it into another type of retirement account while you are still working? Let’s look at how these rollovers can happen and the pros and cons of making them.

A retirement lifestyle is more than just saving money; it's also deciding how you want to spend that extra time. Here's a look at what you want to consider.

When planning your retirement income, you should include healthcare costs. Here are some of the top healthcare costs in retirement to consider.

If you’re experiencing financial hardship or emergency, knowing the rules of the road for penalty-free retirement plan withdrawals is important.

The retirement strategy has changed over the years, culminating in a plan that will ensure that you are living your happiest years during your retirement. Find out what this new strategy is!

Get your clients thinking about their estate strategy with this article about wills. A will is a great starting point, but their financial needs may require more planning.

This article will help your clients understand the basics of an estate strategy and what needs to be included.

Guide your clients in the creation and maintenance of their trusts. This article will help them understand the maintenance processes involved.

This article details the different types of insurance that are a necessary part of a healthy financial plan.

You might be able to plan for many of your retirement expenses, but there are likely going to be unexpected things that come up.

Business transition planning can often be one of the most overlooked sources of retirement income for small business owners. Here are 5 tips to consider when creating your transition strategy.

The 2020 presidential election results could have a profound impact on your estate and gift tax obligations moving forward. Here's what you need to know at year-end and beyond.

If you're an educator, take some time to review your 403(b) retirement plan while there's still time to strategize and save. Plus consider a note of caution on how you get your advice.

Traditional retirement planning is less effective when spouses stop working at different ages. Here are a few things to take into account as you prepare for this next chapter.

Is it time to update your health insurance coverage? Starting November 1, you'll have a limited window to do so. Here's what to consider about changing your coverage in the meantime.