by Leslie Marenco | Oct 31, 2014 | Articles, IRAs / 401(k), Trusts
According to the Investment Company Institute, the use of IRAs for retirement saving has increased in the past decade, with $6.5 trillion invested in traditional and Roth IRAs. But how much of those assets will pass beyond the primary beneficiaries to the next...
by Leslie Marenco | Oct 24, 2014 | Articles, Asset Protection, Case Law, IRAs / 401(k)
A recent U.S. Supreme Court decision has changed the way inherited IRAs are viewed when it comes to bankruptcy, and calls for those who inherit these retirement account assets to find new ways to protect that inheritance. In Clark v. Rameker, Heidi Heffron-Clark...
by Leslie Marenco | Oct 16, 2014 | Articles, Estate Tax, Income Tax, IRAs / 401(k), IRS
Time flies, and the holiday season is already upon us. But pay attention, because if you miss these key financial deadlines you are going to be crying to your CPA when you get hit with substantial penalties or lose the opportunity to take advantage of some smart...
by Leslie Marenco | Aug 22, 2014 | Articles, Estate Planning, Estate Tax, Gift Tax, Income Tax, Inheritance, IRAs / 401(k), IRS, Liens/Debt
Okay, clearly we are past midyear. But now that kids are back to school things can begin to normalize again. All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or...
by Leslie Marenco | Aug 11, 2014 | Articles, Estate Planning, IRAs / 401(k), Non-Probate Asset
Before Leonard Smith lost his battle with cancer in 2008, he worked with his financial advisors to make sure his children received the balance of his retirement funds when he died. He had remarried late in life, two months before his death in 2008, in fact. But it was...
by Leslie Marenco | Jul 30, 2014 | Articles, Case Law, Inheritance, IRAs / 401(k), Non-Probate Asset
It is not often that the Supreme Court provides a clear rule on any aspect of Estate or Financial planning (or even graces our niche with a passing reference), so these occasions call for special attention!! On June 12, 2014, the Supreme Court’s unanimous decision...
