Should an IRA or 401k be transferred into a trust?
- August 25th, 2021
- David Greene
- Comments Off on Should an IRA or 401k be transferred into a trust?
It is definitely not a good idea! If you put your IRA or other qualified retirement account into your Living Trust, the IRS will consider it as a distribution and you will be taxed on the entire amount immediately. There…
If one forgets to change a beneficiary after divorce, can it be amended after his death for good cause?
- November 22nd, 2016
- David Greene
- Comments Off on If one forgets to change a beneficiary after divorce, can it be amended after his death for good cause?
Unfortunately beneficiary designations cannot be amended after the death of the policy or account holder, even if it is clear he did not intend for the listed beneficiary to receive the benefits. The Supreme Court has heard several similar cases…