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Archive of posts tagged Recordkeeping

Uncertain Estate Times

We’ve got less than two months before the current Federal Estate Tax and Generation Skipping Transfer tax rules expire. That means that as of today we do not know what the estate tax rates will be after 2010 and with Congress on (another) break it looks less and less likely that the current Estate tax laws will be extended beyond 2010. Unfortunately we do not know if the Estate tax laws are going to return to pre-2001 numbers or if an entirely new set of Estate tax laws will be implemented in including the possibility of retro-actively collecting estate taxes. This fact is what is causing the current state of confusion and uncertainty amongst many individuals, attorneys, and CPA’s.

Are you locked in your 401k?

The questions does come up, what if the 401(k) plan is terminated? What do I do with my alternative asset in the 401(k)? Alternative assets are no different than stocks; the assets would be rolled over to a Self Directed Traditional IRA. This is a very common technique for physicians. For whatever reason, physicians like to hold non-traditional assets. When they retire, many do not want to keep the plan open because of the additional costs. They will close the plan and roll the remaining assets to their traditional IRAs.