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Before 2007, a non-spouse beneficiary of a
qualified plan was stuck taking distributions
under the terms of the plan, which typically
required full distribution within five or
fewer years of the participant's death. The
Pension Protection Act of 2006 (PPA 2006)
authorized non-spouse beneficiaries (before
it was only surviving spouses) to roll over
to an Inherited IRA.
Billionaire Warren Buffett urged Congress to preserve the estate tax, saying that plans to repeal it would benefit a handful of the richest American families and turn the country into a "plutocracy."
Continue reading "Buffett Urges Preservation of the Estate Tax" »
You had a loving relationship with your mother and she always said she would leave everything to you and your siblings, but after she died, you discover she had recently written a new will, leaving everything to her housekeeper. Is there anything you can do? If you believe a loved one's will is not valid, you may be able to contest it. But proving a will is invalid is difficult and this process should be undertaken only if you are sure there is something wrong.
A Mississippi a man who transferred oil interests on his property to his girlfriend in order to conceal them from Medicaid is not entitled to get the interests back, a state appeals court has ruled.
Continue reading "Do-It-Yourself Medicaid Planning Results in Loss of Inheritance" »
