Community Property and IRAs—What Every Advisor Must Know

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IRS Allows Spouse to Roll Over IRA When Estate Was Named as the Beneficiary

The IRS permits IRA spousal beneficiaries to roll over distributions within 60 days in some cases, but not in others. In this private letter ruling, the IRS waived the 60-day deadline and let the surviving spouse roll over the IRA amount even though the IRA owner’s estate was named as the beneficiary.

How to Save Clients From Making Big Mistakes With Their IRAs

Excess IRA contributions often go undetected, resulting in significant excise and income taxes for clients. An audit of IRS Form 5498 can help you identify a client’s excess contributions in time, so you can make necessary corrections by the applicable deadline and avert possible penalties.

3 Tips for Avoiding Disastrous Trust Beneficiaries for IRAs

Naming a trust as beneficiary can be compelling for clients who want to control how their heirs use the assets. However, trusts can be limiting—especially as circumstances change. These three tips can help clients determine if a trust is the right solution for their estate-planning needs.