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Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501
Manage episode 459209254 series 2424283
Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA planning, step-up in basis rules, family maximums, IRA beneficiaries, and factoring inheritances into retirement planning.
(12:00) George asks how his wife’s spousal Social Security benefit will be calculated, specifically regarding COLA increases to his PIA and his delayed filing at age 70.
(20:30) A listener inquires about minimizing IRMAA surcharges following Roth conversions by using form SSA-44 to waive the surcharge for consecutive years.
(31:15) In a PSA, Jim and Chris clarify a mistake from a previous episode regarding the IRS definition of fair market value (FMV) for determining the stepped-up basis of inherited stocks.
(38:15) A listener seeks clarification on Social Security family maximum benefits and how spousal and child benefits are calculated when the family’s total benefits change over time.
(43:00) George asks for advice on naming IRA beneficiaries, including per stirpes designations, contingent options, and considerations for blended families and remarriages.
(1:08:30) The guys discuss how to factor potential inheritances into retirement planning, particularly when the timeline and asset usage remain uncertain.
The post Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501 appeared first on The Retirement and IRA Show.
404 episodes
Manage episode 459209254 series 2424283
Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA planning, step-up in basis rules, family maximums, IRA beneficiaries, and factoring inheritances into retirement planning.
(12:00) George asks how his wife’s spousal Social Security benefit will be calculated, specifically regarding COLA increases to his PIA and his delayed filing at age 70.
(20:30) A listener inquires about minimizing IRMAA surcharges following Roth conversions by using form SSA-44 to waive the surcharge for consecutive years.
(31:15) In a PSA, Jim and Chris clarify a mistake from a previous episode regarding the IRS definition of fair market value (FMV) for determining the stepped-up basis of inherited stocks.
(38:15) A listener seeks clarification on Social Security family maximum benefits and how spousal and child benefits are calculated when the family’s total benefits change over time.
(43:00) George asks for advice on naming IRA beneficiaries, including per stirpes designations, contingent options, and considerations for blended families and remarriages.
(1:08:30) The guys discuss how to factor potential inheritances into retirement planning, particularly when the timeline and asset usage remain uncertain.
The post Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501 appeared first on The Retirement and IRA Show.
404 episodes
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