Thursday, September 15, 2005

5 (Early) Year-End Estate and Financial Planning Tips

Category: Estate Planning, Estate and Inheritance Tax, Financial Planning,
Some tips to think about now to put your estate plan and finances in a better position come 2006:

1. If over 701/2, convert from traditional IRA to Roth IRA
2. Name a charity as beneficiary of an IRA
3. Take more than Required Minimum Distribution from IRA and buy life insurance
4. Give gifts/fund 529 plans
5. Review your assets and domicile

Robert Powell: Top 5 (early) year-end estate-planning tips - General News - Personal Finance describes each of these tips in detail.

3 Comments:

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At 7:19 AM, Anonymous Anonymous said...

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At 6:02 PM, Anonymous Anonymous said...

If I'm taking out a required minimum distribution then I have to be 70.5 years old. You recommend that I should take more than the minimum and buy life insurance. What insurance company in their right mind is going to insure a 70 yr old? Is there really insurance out there for this?

 

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