401ks & IRAs

Spitting your IRA money in a divorce can be as simple or as messy as the participants decide to make it. Splitting the IRA creates two separate IRA accounts and provides your ex-spouse with IRA...

When someone inherits a retirement account, he needs to open a beneficiary account to hold the assets in the account. The beneficiary Individual Retirement Account (IRA) allows the assets to...

Although you may divide an IRA without a specific court order during your divorce, doing so can result in unnecessary tax penalties. To avoid these penalties, you will need to make sure that your...

When a loved one passes away, certain financial assets will be inherited by the children or spouse of the deceased. An IRA (Individual Retirement Account) is a relatively new asset within the past...

Inheriting a traditional or Roth IRA can be a substantial financial opportunity. You do need to learn the beneficiary withdrawal rules. The general rules are fairly straightforward, but the...

One of the key benefits of an IRA (Individual Retirement Account) is that the owner is able to name a beneficiary on the account. In fact, he can name several, as well as contingent beneficiaries...

At some point in our lives, most of us need to consider who will inherit our assets. If you are looking to plan your estate, naming your beneficiary is part of the plan. There are certain legal...

If someone dies and leaves you the contents of an IRA, the IRA is called a beneficiary IRA or inherited IRA. It does not matter whether the original IRA was a traditional, simple or Roth. Once it...

No law requires you to designate a particular beneficiary for your IRA. However, you may not wish to just choose your wife or your children once you know how the law works with regard to...

A required minimum distribution, or RMD, is the distribution from a qualified retirement account that the IRS requires individuals to take once they reach age 70 1/2. If you have a retirement...

The rules for individual beneficiary's to assume an IRA account are straightforward. Failure to observe mandatory redemption requirements can cause penalty and interest fines. Investors are urged...

There are several options a widow may consider when a spouse has passed away and left an IRA account. The age of the widow, whether or not her spouse was already taking the required minimum...

You can roll over an IRA (Individual Retirement Accounts) into any kind of account you would like, depending on the tax consequences you are willing to pay. The concept behind traditional IRAs is...

An Individual Retirement Account (IRA) is a way for individuals to save money for retirement while adding the advantage of reducing their federal taxes due to the deductibility of the...

There are multiple and often complicated rules governing IRA distribution for beneficiaries. First of all, the distribution rules differ whether the IRA owner has died before age 701/2. Secondly,...

Once an IRA owner passes away, his IRA benefits go to a designated beneficiary. The exact money distributed to a beneficiary wholly depends on whether the beneficiary is a spouse or a non-spouse....

When you receive an IRA as an inheritance and you set up a beneficiary IRA account, you may save money in income taxes. Your relationship to the deceased, your age and the age of the deceased will...

As the beneficiary of an IRA, you want to accept your inheritance in the most tax-efficient manner. The rules for the spouse of the deceased and those for non-spouses differ. Know what your...

Part of the process of opening a 401k account is designating one or more beneficiaries. When choosing a beneficiary you'll want to consider the tax implications to the recipient. The contributions...

IRAs, Individual Retirement Accounts, are the largest monetary asset left to children and grandchildren. In order to leave an IRA to a particular person(s) all that must be done is to name them...

There are times when you may need to tap into your IRA earlier than planned, and the 10% penalty can be a real burden. Here are ways that some of the costs can be avoided. An IRA can be tapped...

If you're half of a married couple who doesn't work, you might wonder how you're going to invest in retirement. Spouses are not allowed to use the working spouse's retirement fund. One solution is...