Year: 2007
IRS to Require Retirement Plans to Offer Non-Spousal Rollovers to IRAs
Beginning in 2008, retirement plans (such as 401(ks) must allow non-spouse beneficiaries to roll over to an IRA. The following is from…
North Carolina has Repealed the Rule Against Perpetuities
Effective August 19, 2007, North Carolina repealed the Rule Against Perpetuities, which means that multi-generation dynasty trusts can be created in North…
Watch Out for Vanguard and its IRA Beneficiary Designation Policy
Vanguard now requires its customers to have identical benefciary designations for all IRAs of the same type. Click “Continue Reading” for the…
2008 Pension Limits Announced by IRS
Maximum deferral limits for 401(k) and 457 plans remain at $15,500. The limit for defined contribution plan increases to $46,000, while the…
IRS Warns Against Certain Trusts Sold as Business Welfare Benefit Funds
The IRS has issued a news release warning small businesses about certain trust arrangements being sold as welfare benefit plans. These arrangements are considered…
Tax and Other Aspects of Vacation Homes
Considering a second home? Read the Vacation Home Survival Guide on forbes.com. A couple things to keep in mind that aren’t mentioned are that…
New Medicaid Rules to Start November 1, 2007
I previously blogged about the changes in the federal Medicaid laws that took place last year. The implementation in North Carolina has…
Anatomy of an Estate Plan
Everyone can benefit from planning for the future, whether it involves the distribution of property, tax reduction, or the care of family…
Questions and Answers about Life Settlements
1. What is a Life Settlement? A life settlement is the sale of an in-force…
A QTIP is Not Just for Your Ears
Estate planners love acronyms, and one of the most common when referring to a particular type of trust is QTIP, which stands…
