Considerations When Setting Up & Managing Your IRA      

Q.  My IRA is a significant part of my assets, and I wonder if there are any special considerations when planning my affairs? A. Yes. Consider the following: Name Beneficiaries: Remember to name both primary and contingent beneficiaries. If you are married, the primary beneficiary would typically be your spouse, but name back-up beneficiaries as… Read More »

Ensuring That Your Loved Ones Receive Your IRA

Q. I have a large Traditional IRA, and I wish to name my wife as primary beneficiary and my children from a previous marriage as backup beneficiaries. Can I lock in this beneficiary designation plan on the IRA Beneficiary Designation Form I sign at the bank? A. Unfortunately, not likely. While it is always a… Read More »

Is My IRA Safe from Creditors?

Q.  My wife and I have a lot of credit card debt and we are having difficulty keeping it current. Most of  our savings is in my IRA. Are these funds protected from our creditors?  A.  In California, Traditional IRA accounts enjoy only limited protection under state law, but expanded protection under federal bankruptcy law…. Read More »

Novel Gift Idea For The Graduate

Q.  Our grandson is graduating college and we would like to get him a gift which recognizes the beginning of his adult life and career.  We thought of something of a “legal” nature and wondered if you have any ideas?  A.  Great thought and indeed I do.  Why not arrange through your attorney to provide… Read More »