The IRS has put out new rules which allow children, grandchildren, siblings and other named beneficiaries to transfer the balance of an inherited 401 (k) directly into an IRA. These beneficiaries no longer have to take distributions in a lump sum or spread over only a few years, but instead can spread out the distributions, and the taxes, over their lifetime. Money must be transferred into an "Inherited IRA" not the beneficiaries own IRA in order to benefit from these new provisions. Be sure to check with a tax advisor to properly set-up and title an inherited IRA.
I love Tricare – I think it is great insurance. However, there are times when Tricare doesn’t cover all your costs, expecially if you are a retiree or using Tricare Standard. As a result, several companies and organizations offer Tricare supplemental insurance policies. A Tricare supplemental insurance policy covers some or all of the [...]