Thu, 17 July 2014
This week I speak with Burt White, Chief Investment Officer of LPL Financial. Burt and I discuss LPL's mid-year outlook Titled: The Investor's Almanac.
Burt and his team do a great job simply communicating the economic and investing environment. Their Investor's Almanac is a great tool to help us invest wisely. No bold predictions or market calls here, just easy to understand insights you can use to make better informed investing decisions. If you'd like a free copy of their Investor's Almanac you can access it in the Retirement Answer Library.
In this episode we discuss:
Retirement Tip of the Week: Designating a Trust as a Beneficiary of an IRA
Last week a client called requesting the beneficiary of his Individual Retirement Account (IRA) be changed to a trust. This planning strategy has become more popular over the last few years. This strategy for IRAs can has some benefits if the ultimate beneficiary is:
The trust can help protect the inherited assets and better control how those funds are used by the beneficiary of the trust.
Be careful using this strategy though. Done incorrectly, the strategy could conflict with IRS rules and possibly create big tax problems. It is important the attorney drafting the trust be familiar with certain aspects unique to inherited IRAs.
Some things to consider are: