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Strategies & Market Trends : Sonki's Links List

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To: Sonki who wrote (380)	3/11/2007 11:25:32 AM
From: Sonki	of 395

2007 rule change in 401k /403 not good for inheritance by kids how to get around is to do rolloever directly without handling the money in to rollover "inherited" ira and ask the distribuiton over kids life time ( else will be distributed (taxed ) in 5 yrs if in 401k or if not speicifed ). if death occurs in 2007 u have till december of 2008 to rollover . partial distribution must take place in 2008 else big penelty. Distribuiton takes over the oldest child's life time . i.e. (84 life expect - 14 childs age) = 70yrs. u have to take out ur ira over the next 70yrs is better then next 5 yrs for tax purpose. marketwatch.com marketwatch.com P.s. if ur spouse close to 55-60yrs age u dont want your spouse to get ur ira as they will be forced to take distribuiton soon. If you have roth u can sleep pretty as there are no tax . that is why i suggest to start Rothing ur ira if ur income is in lower bracket now.

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