Archive - October 1, 2010

1
Financial Planning For Children With Special Needs
2
Taking Orderly Withdrawals From Your Roth IRA

Financial Planning For Children With Special Needs

The two biggest planning mistakes made by families with special-needs children are failing to establish a special needs trust for the benefit of a disabled child and, if a trust has been created, having wills, life insurance policies or retirement accounts which name a child with disabilities as a direct beneficiary.  Another common error is the granting of gifts or bequests from well-meaning relatives directly to a disabled child without utilizing a special needs trust to hold the assets.

The essential purpose of a special needs trust is to improve the quality of the beneficiary’s life without disqualifying him or …

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Taking Orderly Withdrawals From Your Roth IRA

Article Summary:

  • There is a specific order to which the distributions are attributed in your Roth IRA
  • If your distributions are not qualified, you may be subject to a 10% penalty
  • The first order of distributions go to excess contributions

You may never have thought about this, but when you start to take money out of your Roth IRA account(s), there is a specific order to which the distributions are attributed.  You might not think it makes any difference, but in some cases it does – specifically as it applies to any distributions that are not qualified.

Of course, by …

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