Generally we try to cover a number of topics in a single issue. This time we're going to focus. We'll call it the . . . IRA Issue! With a slight nod to Halloween.

Actually I have had a string of client matters lately that involved planning with Individual Retirement Accounts (IRAs). The issues can be quite tricky.

The usual early sign that IRAs will be a big part of a client engagement is when we go over the financials. And there it is . . . in the collection of investment eggs is an IRA that so completely dominates everything else that there will be no choice but to pay a great deal of attention to that monster. Not all monsters are bad, but one must treat them carefully and with respect in order to avoid being bitten or mauled. At such times I am grateful for the early legal training I received as an employee benefits/tax lawyer 35 floors above downtown Atlanta (the Gipper was still president). I learned how to safely approach them.

We will look at two IRA issues.

As the old Kenny Rogers song goes,

You got to know when to hold 'em,

know when to fold 'em
Know when to walk away and know when to run . . .

That can apply (please forgive me, please . . . pun alert!) in spades when dealing with an IRA. Sometimes a wise course of action is shutting the IRA down, or making plans for an orderly shut down over time. I'll discuss that more below.

Also, most married people name a spouse as their IRA beneficiary. Often that makes the most sense. But "often" doesn't mean "always." Scroll down to the second article and you'll see what I mean.

I tried to make these rather dense topics as clear as possible. They may take a couple of read-overs to sink in. Be patient.

And so . . .  

I hope you enjoy these newsletters and you get something out of them. We put a fair amount of work into them, and as I have mentioned before nearly 100% of the content is original . . . quite often based on experiences I have encountered in the recent past.

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Enjoy the autumn. I think it arrived sometime Friday night.

Certified by the National Elder Law Foundation, recognized by the American Bar Association as the certifying entity for specialization in  Elder Law.

Also certified in Elder Law by the North Carolina State Bar Board of Legal Specialization.