Inherited retirement accounts are truly one of those gifts that keep on giving because heirs can benefit for many years without much tax burden. But Congress is starting to talk about curtailing breaks on the accounts. A revenue-raising proposal floated in the Senate Finance Committee last week would sharply limit the time allowed for the [...] [...more]
A growing body of research suggests that our ability to make sound financial decisions declines sharply with age. Roughly half of adults in their 80s suffer from dementia or cognitive decline that impacts financial management skills, according to David Laibson, an economics professor at Harvard University and co-author of a research report with three other [...] [...more]
The year is closing out with a handful of retirement planning tips stacked up on my desk that I want to pass along. Here are some important odds and ends to keep in mind as you consider your moves for 2011: –The tax deal makes Roth conversions easier to fund. The two-year extension of Bush-era [...] [...more]
Q: My family just experienced the recent deaths of both parents within in a 20-day period. In addition to other assets willed to the heirs; there exist IRAs that are worth a little over $40,000. For ease to obtain funds while our parents were alive, they made one brother the beneficiary for easy access if [...] [...more]
