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USA-OH-MONROE Azienda Directories
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Azienda News:
- What Assets Should Not Be Placed in a Revocable Trust?
Accounts such as a 401(k), IRA, 403(b) and certain qualified annuities should not be transferred into your living trust Doing so would require a withdrawal and likely trigger income tax
- The Pros and Cons of Naming a Trust as a Beneficiary
For retirement accounts like the Deferred Compensation Plan, savers are given the opportunity to name both primary and contingent beneficiaries—that is, the person or entity who will inherit the account upon the original owner's death
- Naming a Trust as Beneficiary of a Retirement Account: Pros . . .
Naming a trust as a beneficiary is a good idea if beneficiaries are minors, have a disability, or can't be trusted with a large sum of money
- Deferred Compensation: A Crucial Element in Your Estate Plan
Deferred compensation can impact your taxable estate, potentially increasing the estate tax liability for your heirs For instance, if you hold significant amounts in deferred compensation plans, these assets may be included in your gross estate under federal estate tax laws
- How to Avoid the Biggest Mistakes in Making Beneficiary . . .
• OPM Standard Form (SF) 1152 (Designation of Beneficiary: Unpaid Compensation and of a Deceased Civilian Employee) This beneficiary form designates beneficiaries for any unpaid compensation and unused annual leave that is owed a federal employee who dies in federal service
- Understanding Beneficiary Designations - Eagle Claw Capital
Beneficiary designations can have a big effect on whether your estate plan works as intended Your financial professional can help you gather information about all of your beneficiary designations so you will be better prepared when you meet with your attorney and CPA to review your estate plan
- Designating a Trust as Beneficiary of Individual Retirement . . .
The surviving spouse should almost always be named the primary beneficiary, with the Trust designated as contingent or secondary beneficiary because of the surviving spouse’s opportunity to elect a Spousal Rollover and treat the distributions as an owner rather than a beneficiary
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