2 Burst results for "Tate Ric"

"tate rich" Discussed on 760 KFMB Radio

760 KFMB Radio

07:37 min | 1 year ago

"tate rich" Discussed on 760 KFMB Radio

"Hear a great answer that I want to hear thanks thanks for the question Greg from beautiful Temecula yeah I like to make yeah because there's a bunch of wine there there is of it plus we could either well quite a lot in the mountains which is about two hour drive out of San Diego it's very pretty up there never been and I go right through to make any sense all right Greg I'm not sure what you read because yeah it's it's it they they have ten years there's just because their minor children if so here's the rule let's say if it wasn't the grandmother it was Greg's retirement account for minor children they're able to stretch the IRA out until they reach age majority so there's kind of this weird rule within minor children that they can still stretched over their life expectancy until they reach the age of majority then they have to take the ten year but grain children doesn't do there's there's a although it still can yeah but they don't have the cash it out all at once yeah and great guy I agree with you I I'm not sure what you were referring to either but we should say it so the secure act that was just passed inside lasted late last year one of the main things it did was it eliminated the stretch Tyree for inherited Irene's inherited non spousal IRA so that's kids grandkids friends neighbors whatever he'd non spouse so in the in the and before that you could win you inherited IRA let's say from your father or grandfather grandmother whatever you could stretch it out over your entire life see just like a little piece for the whole rest to live well that went away with the secure active now this correct says that you have to take the withdrawals within ten years I've never heard of an immediate withdrawal either so I I'm not sure what that's referring to yeah I don't know where he read that but I have a pretty good source seems big out I love you trust me yeah I do trust sometimes on taxes investments that some all out but no I think he's good I didn't I I I get with the grandmother wanted to deal is that all right well here I have four children I have this IRA or grand children I want to give the the irate and grand children they're they're probably in a lower tax bracket so as they're taking the distributions out over ten years they might not be that hurt depending on how old the the the great children right give some that old so those kids are probably you know under twenty one I'm guessing but who knows but no Greg I don't know what you read but if you if you find whatever source that you read that from you could shoot it our way in this we can verify that you know I'm I'm not sure what what the heck that is so hopefully that's good news for you we got rich he wrote in from Chicago he goes hi Joan L. love the show I never miss a podcast wow never did for year it's my brother good so he lives in reading written reading group I'm fifty seven yeah my question is about the new law that eliminates the stretch inherited IRA I currently have my spouse is my first benefits for my children second with this new law should I choose my trust as a second beneficiary my spouse would remain as the first but my thinking is that naming the trust of the second that may stretch out the payments longer than the new law ten year rule my oldest child is twenty nine years old is my pinky correct or are there other considerations on naming the trusted the second beneficiary thanks lot of confusion out there Alan yes well the secure act is confusing so no rich you view the I mean the trust is at it now we're going to give away but if you have to be careful and who your name and your benefits for you there's no way around that can your choice you know I'm getting a beneficiary so it's going to be it is a discretionary trust or a conduit trust right is it a look through trust in them when your name in a trust the benefits have a retirement account if you think it's a lot more complex than the secure act itself in the secure act isn't really that complex he's trying to stretch out the retirement account to his child longer than the ten years is there a way to do that the only trust that you would be might want to consider if that were the case would be a terrible remainder trust that's it right in given to that in a second but if he's just talking about a normal trust I don't see how what what what what what that logic is coming from yeah I would agree with that that basically the trust it basically inherits the same position if you will I mean it could actually even make a work worse but as I can to make it better and I think that's so that that's the richest twenties trying to stretch out the the life expectancy longer in the trust does not do that right so for instance let's say that you know there's irate trusts out there I think you have one yeah you're living trust also has it like can I wanted for I do and now I think there's less need for it yeah you probably need to get rid of it I probably do yeah yeah in because what happens is that they'll say all right once that won't what once the Tate rich deceased in his wife is is is passed so now they have this irate that's going to a child that is now twenty nine years old he probably will inherit it you know thirty years from now fifty years from now whatever itself if it goes to a trust it depends on if it's a discretionary trust or conduit for us a discretionary trust is gonna say the trustee has discretion on how those dollars get distributed right and it stays in trust but those does have to come out of the retirement account and they're going to get taxed it frustrates so the top rate of thirty seven percent is that what income out but like thirteen thousand it's a thirteen fourteen thousand of of income some like that right so if you have a large irate you're going to get blown up you're gonna lose most of that to taxes yeah and the reason they set it up that way it's basically the same tax brackets this individual rates but you hit those high brackets very soon because they didn't want you sifting income from yourself to the trust of to have too low bracket so that's the reason why they did that or someone like rich trying to you know stretch out the scratch even more right right if it is a discretion are conduit let's say so irate trust in within the language they were seen or a just beat out the R. and B. yeah because an inherited IRA there's an automatic required distribution over the life expectancy of the inheritor of but now it's a ten year rule so no money is not going to come out of any of those plants until the tenth year and everything's going to come out and it's going to blow up potentially in taxes so be careful if you want to name the trust of we can get into more complex I guess strategies rich eternal remainder trust might make some sense rob conversions probably make some sense really depending on what you are trying to deal and and I can help financially act you know what what the financial acted in of your your child is are you trying to get a hold assets in only dribble a little bit out to the the did the kit or or are they responsible where they can handle a fairly large inheritance so we got a lot more secure act to go if you got a question go to your money well dot com we'll be right back shows called your money or wealth AM seven sixty KFMB you're looking to sell your home do yourself the favor of interviewing one of the country's best Daniel bearer of the beer home team the X. P. realty it's right and I know them personally get this the average agent in San Diego county so it's only three point seven homes a year and most people billing themselves as top producers only selling twenty or so homes on a yearly basis.

Greg San Diego Temecula
"tate rich" Discussed on Championship Drive

Championship Drive

01:36 min | 4 years ago

"tate rich" Discussed on Championship Drive

"Eighty six shared run may be and the rest of the game he had sixty or seventy yards so he did a decent job containing by arizona his offense has been flying and with a quarterback like a little tate rich rods offense is at its peak but if you look how usc played their three pac 12 games against three packed with games in october saint bought the same amount of points same money yards is arizona defense is where the differences arizona in their pac 12 games in the month of october given up by five hundred yards per game us she's given up under four hundred and they're holding their opponents below their season average plus this is a game where we need is the pac 12 south title game and coming into the year i think he was he expected to be here that had that lost notre dame but they really impressed me last week against arizona state so i do like you a c to win natural matete running around anything can happen i think you will see wincing winced by more than a touchdown in that one with the stand for washington game as long as price loves healthy we saw that would a non brice love stanford team could do against oregon state and they struggled as long as he is healthy the match up by like you said big stanford offense of line against the smaller quicker defensive line for washington state i think brice love would find holes in it and i i do believe field play and if that's the case i think they could control it's going to be cold can be snowy but that doesn't hurt you when you have a big downhill running offense like stanford does in stanford of course has the better defense as well so i'm going to call first stamford to pull the upset call for a lot of upsets here today i ask you all know that that leads into my weekly last question for you fill give me the upset special those sounds like there's a lot of them.

arizona brice stanford usc washington oregon five hundred yards seventy yards