traditional

Amazon Great Republic Day Sale 2023: 10 Stylish Curtains And Drapes To Enrich Your Home Interiors – PINKVILLA

Amazon Great Republic Day Sale 2023: 10 Stylish Curtains And Drapes To Enrich Your Home Interiors  PINKVILLA

Your Positive Rental History Will Now Help You Qualify for a Mortgage

In a bid to help more renters become homeowners, Fannie Mae has introduced a new “innovation” that will incorporate rental history into its automated underwriting system. The added feature, which will launch on September 18th, 2021 via Fannie Mae’s Desktop Underwriter (DU), automatically identifies recurring rent payments in an applicant’s bank statement data. This will… Read More »Your Positive Rental History Will Now Help You Qualify for a Mortgage

The post Your Positive Rental History Will Now Help You Qualify for a Mortgage appeared first on The Truth About Mortgage.

What to Know Before Building a Guesthouse

Before building an accessory dwelling unit on your property, consider these legal, design and financial implications.

What is a Railroad-Style Apartment?

They have a very unique layout.

The post What is a Railroad-Style Apartment? appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.

Is It Worth Finishing College Faster If You’re Further In Debt?

Should you focus on finishing college quickly to avoid additional student loans? Weigh your options with Money Under 30.Should you focus on finishing college quickly to avoid additional student loans? Weigh your options with Money Under 30.

The post Is It Worth Finishing College Faster If You’re Further In Debt? appeared first on Money Under 30.

How To Run A Successful Crowdfunding Campaign

Crowdfunding has made it simple to raise money for nearly every type of business, social cause or personal project. How can you run a successful campaign?

The post How To Run A Successful Crowdfunding Campaign appeared first on Bible Money Matters and was written by Joseph Hogue, CFA. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.

What to do if you inherit an IRA?

Savvy savers open Individual Retirement Accounts for themselves to ensure that their golden years will be enjoyable and not fraught with financial worry. But what if you die before you reach retirement? What happens to your IRA? What to do if you inherit an IRA?
 
First things first: When you open your IRA account, you will fill out a form listing beneficiaries. It is important to keep this form up to date throughout your working life (if, for example, you are divorced and you don’t change the beneficiaries, your ex will inherit your IRA. That thought doesn’t lead to a restful sleep in the afterlife, does it?) A will does not supercede the IRA beneficiary form.

What else not to do: Don’t name your estate as your IRA beneficiary (also important to note: if you DON’T name a beneficiary, your estate becomes the default). Typically, nonspouse beneficiaries who inherit a traditional IRA can either liquidate and pay taxes on those assets within five years of the owner’s death, or take the so-called “stretch option” and stretch the required minimum distributions out over their own lifetime. This could amount to thousands of dollars of lost growth. On top of that, if the IRA becomes part of your estate and enters probate, it can be accessed by creditors.

Has anyone seen that form? Do you know where your IRA beneficiary form is? Don’t assume it’s easily accessible from your broker or bank, because with all the mergers and acquisitions over the last decade, paperwork may have become lost in the shuffle. So, find that piece of paper — and all your important financial documents — and secure them. Then, tell your attorney and your family members where you have stored them.

Inheriting an IRA as a Spouse

According to the IRS, if you inherit a traditional IRA from your spouse, you generally have the following three choices. You can: