Stites on Estates

Tag Archives: retirement planning

A Critical Look at Roth IRAs: The Marshmallow Is Not Always What It Seems

Posted in Income Tax Planning, Life Cycle Estate and Financial Planning, Retirement Planning
In the late 60s and early 70s at Bing Nursery School on Stanford’s campus, Walter Mischel conducted the famous “Marshmallow Experiment” on delayed gratification. Preschoolers were offered a choice between one marshmallow or cookie right away, or two if they waited about 15 minutes. When researchers tracked down study participants as adults, they found that the… Continue Reading

Supreme Court Denies Creditor Protection for Inherited IRAs

Posted in Asset Protection, Estate Planning, Retirement Planning
Earlier this year, in Clark v. Rameker, 573 U.S. ___ (2014), the Supreme Court resolved a circuit split and delivered bad news for debtors, finding that a debtor’s inherited IRA was includible in her bankruptcy estate. Clark is an important decision because it clarifies that IRA assets inherited by adult children or other beneficiaries are… Continue Reading

Florida Residency Planning for Kentuckians

Posted in Estate Planning, Florida Estate Planning, Income Tax Planning, Inheritance Tax Planning, Retirement Planning
If you are a Stites on Estates reader in a state where it’s cold in the winter, you have probably seen them: people who seem to live in your own neighborhood and golf at your club, but have a car with a Florida license plate. Who are those people? They’re the lucky ones: the Snowbirds… Continue Reading