Estate Planning, Social Security, and TSP to Roth Conversions - 351

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 9 November 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is there a step up in basis on (and advantage to) a joint tenants with rights of survivorship brokerage account? Is a charitable remainder trust a good way to liquidate property? Is there a point to Roth conversions when leaving your estate to charity? Should you name your trust as beneficiary on retirement accounts? When to draw from Social Security, pension, and annuity in retirement? Plus, Roth conversions from a thrift savings plan. Show notes, resources, Ask Joe & Al On Air: https://bit.ly/ymyw-351

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 351, is there a step up and basis on a joint tenants with rights of survivorship brokerage account?
0:08.9	And is there any advantage to setting the account up that way?
0:11.6	Is a charitable remainder trust a good idea to liquidate a property?
0:15.0	And what would be the rate of return on that over 20 years?
0:18.0	If your entire estate is going to charity, is there any point in doing
0:22.0	Roth conversions? Get ready for an answer you rarely hear on YMIW for that one. Also, should you
0:27.3	name your spouse or your trust as the beneficiary of your retirement accounts? When should you
0:32.1	draw from Social Security, a pension, and an annuity in retirement? How do Social Security
0:36.9	survivor benefits work again?
0:38.8	Plus, converting to Roth from a TSP, Thrift Savings Plan.
0:42.5	Click Ask Joe and Al on air at Your Money, Your Wealth.com
0:45.5	to send in your money questions as an email or as a voicemail,
0:49.4	which gets first priority like the one coming up from Mike.
0:52.2	I'm producer Andy Last with the hosts of
0:54.2	Your Money, Your Wealth, Joe Anderson CFP and Big Al-Clopline CPA. And here's our first
0:59.2	question of the day. Hello, Joe Allen Andy. This is Mike from Tucson, Arizona. I'm
1:04.0	a 2011 Subaru Outback with 100,000 miles on it and currently am enjoying a 60-minute
1:08.7	IPA from Doc Fisher. My question is regarding a joint tenancy with right-up survivorship rope bridge account.
1:14.6	My mom set up after the passing of my grandmother in 2018.
1:17.6	The owners are my mom, my sister, and myself.
1:20.6	A few questions. Besides avoiding probate, was there any advantage to setting up this account in this manner?
1:25.6	Two, after my mother passes, is there a step up and bases in this type of account?
	...

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