3. I gave it to him so I get it back. It’s very common for family members to try to reclaim gifts that they made to the deceased. Again, there is absolutely no legal basis for this. If you bought a TV for Dad and gave it to him, when he passes it goes under… Read More
“But Grandma said I was to have her diamond ring!” Since before Jacob tricked Esau out of his birthright and his father Isaac’s blessing, families have argued, fought, and become embittered over inheritances. Some of the most bitter disputes are over things – cars, silver, guns, china, clocks, and in one case I know of… Read More
8. Putting the wrong investments in the IRA. Don’t put municipal bonds in your IRA. The IRA pays no income tax, it does not need to take a reduced rate to receive tax-free income. Don’t buy an annuity in your IRA. The IRA is already tax deferred, you don’t need to buy a product for… Read More
4. Not beginning the required distributions on time. You are required to begin taking the minimum required distribution (“MRD”) by April 1 of the year following the year in which you attain the age of 70 ½. Making this withdrawal is your responsibility. It is not the responsibility of the broker or mutual fund or… Read More