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Paul Rabalais
Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450…(read more)
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Die with zero is better than dealing with any IRAs that's our plan why wait so the government changes the rules?
Congress made this entire subject harder and understanding it even more difficult. Especially if your trust is for a special needs child.
Does the non-spouse beneficiary have to take a ROTH IRA over 10 years, since there's NO TAX, can it still be over the lifetime since the government doesn't get any tax from those distributions anyways. Do the same rules that apply to Roth IRA apply to ROTH 401K??
What if the non-spouse beneficiary is an educational trust that will give scholarships to deserving college students? Since I don't have children and I spent my career as a college professor, I've seen the good scholarships can do. I am thinking through how to structure this and wonder if the type of beneficiary makes any difference. Thanks for your generous lectures!
The SECURE Act screwed my two 33 yo kids. The purpose of my trust is to keep as much as possible in the trust (protected) until they each reach age 60… so that divorces, etc. are behind them… and also reduce their tax liability while they're working. Now with the SECURE that same money is going to charity. The kids lose. (there are other factors as well)
Two questions: 1) Can a non-spouse beneficiary roll over the inherited IRA to his/her own IRA account? 2) what are the implications of having the Revocable Trust as beneficiary?
They totally destroyed estate planning for scenarios with non-spouse beneficiaries who have specials needs. I have a special needs kid i need to provide for during his life to at least some extent (trust). I dont know if he would be exempted or not. Now his future well being might depend on the fine print on the exemptions. This is horrifying!
I read there are changes to the 401k. Could you explain the changes. I would like better clarity in the subject. Thks
GEAUX TIGERS!
Its not free money!! That money was family estate, wealth building that was available to working middle class Americans. The change effectively taxes those whom can afford it the least to pay for deductions and loopholes to those that need it the least. The tax code is being perverted from all angles to benefit the established and passive income to the demise of the building and working income.
Thanks so much for this video!