What can you do with an inherited IRA?

Recently, the Senate Finance Committee proposed to make all heirs take all of the money out of inherited IRA’s within five years after the date of death of the original owner of the account. This proposal was abandoned shortly thereafter, which would have changed the current system which allows the beneficiary to stretch withdrawals from […]

Know the rules before listing beneficiaries to IRA account

January 22, 2008 – As published in the Naperville Sun As the baby boomers retire, they are the first generation that will retire with large IRA accounts.  When the boomers do their estate planning, one of the considerations in such planning is who to name the beneficiary of the large IRA account.  One consideration for […]

The IRS Has New Rules For Investors

In the past, you might have your securities in street name in a brokerage account and you never told the broker your cost basis in the securities. Sometimes, you might have inherited some of the securities and received a new cost basis or received some shares as a gift, where you would either use the […]