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How do I split an IRA in divorce?

When an IRA needs to be split in a divorce it's best to use a trustee-to-trustee transfer between the spouses IRA and former-spouses IRA.  IRAs are split in accordance with the divorce decree so make sure the decree specifies the…

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When Must RMDs Be Taken?

Your first required distribution from an IRA or retirement plan is for the year you reach age 70½.  However, you have some flexibility as to when you actually have to take this first-year distribution. You can take it during the…

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Rules of an Inherited Traditional IRA

When inheriting a traditional IRA in a non-spousal relationship, you have different options based on the age of the original account holder of the traditional IRA. If the account holder was under 70 1/2 you have three options: Life Expectancy Method:…

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Retirement Planning (It is never too Early)

Retirement is one of the biggest experiences that you will have in your lifetime. The planning takes many years of hard work and persistence. The headaches and uncertainty can be reduced with homework, investment plan, and a long term commitment.…

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