RMDs are governed by the IRS. The process of levying and collecting taxes involves many people. The IRS is tasked with overseeing the proper payment of these taxes. According to a recent AARP article titled “How an IRS Rule Update Impacts Required Minimum Distributions,” the IRS also adjusts formulas used for required minimum distributions (RMDs) […]
You can save on taxes with qualified charitable distributions. Few people look forward to any portion of their income ending up in the hands of the government. Even if they cannot keep and use all of their funds for themselves and loved ones, many people prefer to have a say in how the funds are […]
Stretching an IRA is challenging but not impossible. Not too long ago, your estate plan likely included a Stretch IRA. This allowed your retirement funds to last for the lifetime of your non-spousal heirs (typically your children). With the SECURE Act, this option is no longer on the table for wealth transfer. According to a […]
Understanding required minimum distributions can help you avoid expensive mistakes with your retirement funds. There is a lot to think about in retirement. When you no longer work and have a paycheck, the money in the nest egg is your money. How you manage this money is important. No, it is essential. According to a […]
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Overland Park Estate Planning Attorney Kyle Krull assists clients in Kansas and Missouri with Estate Planning, Wills, Trusts, Revocable Living Trusts, Charitable Planning, Asset Protection and Business Succession Planning in the greater Kansas City area including Overland Park, Leawood, Olathe, Lenexa, Johnson County Kansas and Jackson County Missouri.
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