Trust Issues, Death & Taxes: Estate Plan Spitball - 427

If you knew exactly when you were gonna die, so many financial decisions would be simple. But generally, we don't, so today Joe and Big Al spitball on death, taxes, and trust issues of the estate planning variety. Fair warning, it's "the dark show" today on YMYW, as the fellas discuss cancer trust funds, making your trust the beneficiary on your retirement accounts, when and how to take Social Security benefits and pension options, Roth conversion strategies taking into account the 5-year rules for withdrawals, and potentially donating required minimum distributions to charity rather than doing conversions.

Timestamps:

• 00:49 - Pension Plan Options Retirement Spitball: Lump Sum, Annuity, or Hybrid? (Dave, CO)
• 07:37 - Should We Have a Cancer Trust Fund? (Melinda, Milwaukee)
• 12:02 - Why Not Make Our Trust the Beneficiary on Retirement Accounts? (Ms. Merry, MD)
• 21:40 - Is There a 5-Year Rule on Taking Dividends from a Roth IRA After Age 59½? (Douglas, Bonita, CA)
• 23:34 - I'm 60, My Ex is 74. Am I Eligible for Spousal Social Security Benefits? (Salwa)
• 24:39 - How Much If Any Roth Conversion Should We Do? (Paul, NJ/SC)
• 28:53 - Why Do a Roth Conversion Instead of Donating to Charity? (Kevin, Raleigh)
• 32:57 - Why Separate and Never Add Money to a Profit-Sharing Plan Rolled to IRA? (Nancy, Foxboro, MA)
• 35:46 - Retirement Pension at 57 or 60? Social Security at 62 or 70? (midwestfabs)
• 45:56 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-427

• Estate Planning Organizer
• Inflation, Interest Rates, Recession? Financial Markets Update Webinar Replay
• Going Solo: Navigating Your Financial Future Single - YMYW TV & companion guide
• Episode Transcript
• Ask Joe & Big Al On Air