Search Results

Let’s first look at the “five year” rule for withdrawing funds tax-free from a Roth IRA. We need to distinguish between contributions to a Roth individual retirement account and the earnings For instance, if you deposit $1,000 in a Roth IRA, you can withdraw that same $1,000 at any time, tax-free Reference: The Wall Street Journal (February 7, 2016) “When the 5-Year Clock Starts on a Roth IRA” #RothIRAs

September 30: Some beneficiaries who inherited individual and Roth IRAs in 2015 take note—if a non-individual Non-spouse beneficiaries of traditional and Roth IRAs must also take RMDs by year-end, starting the year 2016” #HoustonAssetProtection #IRA #401k #HoustonEstatePlanning #SocialSecurity #CharitableDonation #RothIRA

If you have money in a Roth account, it should be used last. #IRAs #401k #HoustonEstatePlanning #SocialSecurity #Inheritance #PlanningfortheFuture #PropertyTax #RothIRA

Get a Roth IRA. If you don’t already have a Roth IRA account, consider adding one for tax-free income in retirement. You can make after-tax contributions to a Roth IRA or convert traditional IRA money to a Roth IRA if you make more than the limitations for direct Roth contributions. You can also see if your employer has a Roth 401(k).

However, Roth IRA contributions aren’t deductible on your current tax return, but withdrawals after you However, a Roth IRA doesn’t have this requirement. Because of this, Roth are thought to be the best option for estate planning. Because of this, a Roth IRA can be both a retirement account and an emergency fund. Roth IRAs are super tools for estate planning.

Think about Roth and traditional IRAs and 401(k)s if you haven’t already. #HoustonEstatePlanning #Probate #ProbateCourt #Inheritance #RevocableTrust #PowerofAttorney #Wills #RothIRA

withdrawals from your IRA, SEP IRA, SIMPLE IRA or retirement plan account when you reach age 70½, but Roth

Unless your assets are in a Roth IRA, when you start withdrawing your money from other sources, there

Finally, withdraw from your tax-deferred and Roth accounts, in that order. Also, you need to consider other forms of insurance because your chances of having accidents both at

They both specify your last wishes and appoint someone to carry them out. However, there are reasons you would choose one over the other and sometimes you might choose both! A will does nothing for you while you are Your loved ones will be unable to manage or transfer assets

Business planning lawyers look to protect both aspects of this should you die or become incapacitated To get the most out of the tax codes that have been put into effect for folks like you, there is nothing

Blood could not make you both any closer, so it is only fair that you make provisions for him in your It is both kind and prudent to think about the future of the family you have inherited. Legal Care, we currently offer complimentary strategy sessions for prospective clients, so you have nothing