Reasons to set up a Third Party Supplemental Needs Trust as an Accumulation IRA Stretch Trust
In a previous post, I described the Reasons to Set up a 3rd Party Supplemental Needs Trust as an Irrevocable Life Insurance Trust. The same Third Party Supplemental Needs Trust can also be set up as an IRA Stretch Trust. If a Special Needs person is named as beneficiary of an IRA, 401k, 403b or any other […]
The Biggest Danger of a Roth IRA Conversion
After speaking with a client who did a ROTH IRA conversion last year, I realized that there is a major danger to these conversions. You cannot assume that the financial institution will designate the same beneficiaries on the ROTH IRA as had been named under the traditional IRA. Many financial institutions will send out beneficiary […]
IRA Planning in Light of Robertson v. Deeb
In December of 2009, the Florida Court of Appeals concluded in Robertson v. Deeb, 16 So. 3d 936 (Fla. 2d DCA 2009), that the beneficial interest that a person owns in an inherited IRA may be subject to garnishment. In other words, an IRA that you inherit may be taken by your creditors. This is […]