If you are like most people, you don’t spend much time thinking about your own demise. But when you die, someone is going to have to take care of your affairs. If you have a will and other estate planning documents in place, you’ll be leaving a wonderful gift behind because you’ll be simplifying what can be a lengthy and often complex process.
I recently graduated from Bentley University this past May. While completing my undergrad, I had the opportunity to spend a semester studying abroad in Barcelona, Spain. My time in Spain exposed me to major courses in a different environment (International Finance for me), while also creating lifetime memories and lasting relationships along the way.
Many of you may have seen articles where I've mentioned the various taxes and penalties associated with the multitude of retirement plans out there.
Generally speaking, when one has a traditional IRA or Rollover IRA from a work sponsored retirement plan or old 401K that was left behind when one retires, the rules are pretty straightforward.