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Posts Tagged ‘beneficiary’

October 15th, 2012

The Importance And Benefits Of 529 Plan

(George Sterling) - Every parent wants their child to go to college but in most instances, parents don’t have the money to pay for the tuition fee and other associated expenses. However, even if money is tight, you are not out of options as there are several plans in the U.S that you can use to fund your [...]

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October 11th, 2010

What is an Inherited IRA?

(Money Manager) - The term "inherited IRA" is used to refer to an individual retirement account (IRA), which after the owner's death, is left to one of his or her beneficiaries. The tax laws for IRA plan inheritance can be quite complicated for the average person to figure out. Because of this, it is generally recommended that any beneficiaries who inherit an IRA seek out the counsel of a tax professional or financial advisor.

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August 16th, 2010

What are Extended IRA Plans?

(Money Manager) - Extended IRA Plans, which are sometimes referred to as multi-generational IRA plans, are designed for use by individuals who do not want to spend all of the money accumulated in their IRA plan, or those simply do not need to spend the money to cover their own needs. These plans are designed to allow a person to "pass down" an IRA account during their life expectancy to a designated beneficiary, known as the first generation beneficiary.

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June 12th, 2010

What is a Testamentary Trust?

(Money Manager) - A testamentary trust is one of the most common varieties of trusts. These trusts are activated by a person's will at the time of their death. Testamentary trusts are commonly used to provide benefits for a minor child or disabled child even if they are older, in the case of the death of both parents. Testamentary trusts can also be set up under certain circumstances for one's spouse as a way of providing benefits to them.

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November 16th, 2009

Are You Prepared for the Unthinkable?

(Michael Schwartz) - I think it’s safe to say that most of us can’t imagine the pain and burden that is placed on a surviving spouse in the event of the untimely death of their mate. Not only do people not think that far in advance, but because it’s such an unpleasant thought, most people try to avoid addressing the issue at all cost – until, of course, it is forced upon them. But, imagine for a moment –what would happen if the death of your spouse ended a monthly income that you had come to depend upon?

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September 15th, 2008

Coverdell Education Savings Accounts

(Money Manager) - Coverdell Education Savings Accounts are a way to save money for college. Coverdell's provide special tax advantages not otherwise available through general savings. These accounts are governed by Section 530 of the Internal Revenue Code1 and are named for Senator Paul Coverdell, who sponsored the legislation that established these accounts in the tax code.

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September 15th, 2008

An Insurance Primer

(Money Manager) - Everybody needs insurance; auto, home, health and life. The problem is which kind of policy of each is best for a particular person's situation. You could always just call an agent and go along with whatever he recommends. That's the easy way and unfortunately maybe the most expensive way.

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