Transcription
Listen, I want you to picture a very specific phone call. Not a call from a doctor, not a call from a hospital. A call from a CPA in a professional office building in North Scottsdale, Arizona on a Thursday afternoon in March of 2026.
The man taking that call is Robert. He is 73 years old. He spent 27 years as a middle school principal in the Scottsdale Unified School District. He coached the debate team. He had a system for everything. Color-coded grade books when that was still a thing. A laminated emergency contact card in every classroom. He was the kind of man who fixed problems before they became problems and who did not, under any circumstances, leave paperwork undone.
When his wife Patricia died of a stroke 14 months ago, Robert was devastated in the way that only a person who spent 41 years with someone can be devastated. But Robert handled the paperwork. Robert organized the estate. Robert made the calls. Robert went to the financial institution and handled Patricia's retirement account. Robert did what he was told. Robert believed he had done everything correctly.
The CPA on the phone is telling him otherwise. The CPA is telling him that his federal income tax liability for 2024, the year Patricia died, is $71,400. Robert's tax liability in 2023 was $9,200. The CPA is telling Robert that the reason for the $71,400 bill is that the $195,000 in Patricia's traditional IRA, which Robert withdrew and deposited into his checking account 11 months ago, has been reported to the Internal Revenue Service as a fully taxable ordinary income distribution.
The IRS received a 1099-R from the financial institution in January. The $195,000 appeared on the 1099-R as a code one distribution. Fully taxable, no exceptions, no rollover notation, no special treatment. Just $195,000 of income sitting on Robert's tax return in the year he was simultaneously losing his wife, organizing a funeral, managing an estate, and running the household alone for the first time in 41 years.
Robert tells the CPA that he does not understand. He did not take the money out of the IRA. He moved it to his bank account. He thought he was rolling it over. The customer service representative at the financial institution handed him a form. He filled it out. He got a check. He deposited the check. He thought that was the rollover.
The CPA explains in the patient tone of someone who has had this specific conversation 40 times before that what Robert describes is not a rollover. What Robert describes is a distribution. A distribution is taxable. A rollover is a direct trustee-to-trustee transfer that never produces a check made payable to the account holder. Robert received a check made payable to Robert Johnson. That check was a distribution. The IRS has known about it since January.
The 20% mandatory withholding the institution took from the distribution, $39,000, was not the tax. It was a deposit toward the tax. The actual tax on $195,000 of ordinary income, added to Robert's other retirement income as a single filer, is $71,400. Robert already paid $39,000 through withholding. He owes $32,400 more before April 15th.
Robert puts the phone down. He sits in the chair in his home office, the one Patricia bought at a furniture store in Tempe 17 years ago, and which he has never thought about replacing because it smells faintly of the cedar closet where they stored the good China. He sits in that chair and he looks at the framed family photo on the desk and he does the arithmetic that has just become his reality. $32,400 on top of the $39,000 already on top of the funeral, on top of the probate attorney, on top of everything else the year Patricia died cost him.
And Robert, the man who fixed problems before they became problems, the man who had a laminated card for every emergency, did not know. Could not have known because nobody told him that there was a difference between moving money from one account to another and rolling it over correctly. Nobody told him that the IRS was going to receive a 1099-R in January listing his name, his social Security number, and a code that would add $195,000 to his taxable income. Nobody told him that there was a process that would have made the entire transfer tax-free. A process that the same financial institution that handed him the check was legally obligated to offer him and effectively failed to explain.
But, here's the part that makes Robert's story more than just a tax problem. The inherited IRA mistake is only one of three bank account mistakes sitting inside Robert's financial picture right now. Three mistakes. Three separate automatic reporting mechanisms feeding information about Robert's accounts directly to the IRS, to the SSA, and to the state Medicaid agency that would review every dollar that moved through his accounts if he ever needed long-term care. Three mistakes that the man who fixed problems before they became problems made while he was grieving, while he was managing, while he was doing his best. And only one of them involves the IRA.
What I am going to give you in the next 33 minutes is the complete breakdown of what those three mistakes are, why the government's reporting systems already know about every one of them, and what you need to do this week to repair the damage before the window closes on two of the three. Before I take another breath, let me be precise about something. I'm not going to tell you how to hide money from the IRS. I am not going to tell you how to evade reporting requirements. I'm going to tell you about three completely legal, completely ordinary bank account structures that millions of American seniors use every single year with the best intentions, structures that the government's automated reporting systems flag and record automatically, structures that create tax bills, Medicare premium spikes, and Medicaid eligibility problems that were entirely preventable with one different decision at the point when the account was opened, the check was cashed, or the transfer was made.
The IRS and the Social Security Administration and the state Medicaid agencies do not need to audit you to see these mistakes. The reporting is automatic. The 1099 arrives every January. The bank statement goes back 60 months the moment a Medicaid application is filed. The question is not whether the government knows. The question is whether you know what the government is looking at and what it means for you.
Smash the like button right now. The 2026 YouTube algorithm has a documented suppression pattern on senior financial education content, specifically when it involves IRS reporting, Medicare premium exposure, and Medicaid asset review. The platform reduces the reach of this category of video because the financial services industry has a significant interest in keeping seniors in products and account structures that generate fees, not in account structures optimized for the seniors actual benefit and tax position. Every like on this video pushes it into the feed of one more Robert sitting in one more home office chair before the CPA calls instead of after. Subscribe and flip the bell. The archive I am building here is the complete senior financial protection manual, the one your bank representative, your generic financial advisor, and the customer service representative who handed you the check were each separately supposed to explain and none of them did.
Now, let me show you the full picture of what three bank account mistakes look like inside one person's financial life because Robert's story does not start with the IRA. It starts 11 months before the IRA when Patricia first went into the hospital and Robert added their daughter Jennifer to the joint checking account.
Robert's financial picture when Patricia died had four main elements: a traditional IRA in Robert's name with a balance of $290,000, Patricia's traditional IRA with a balance of $195,000, a joint checking account at the regional bank with an average balance of $88,000 carrying the household operating expenses, and a Schwab brokerage account in Robert's name with $140,000 in index funds generating approximately $5,200 in annual qualified dividends. Robert's monthly income was $2,600 from Social Security and $1,400 from his pension. Total gross household income before investment income, $48,000 per year. Tax situation as a widower single filer, manageable but tighter than when Patricia was alive. This covered in detail in previous episodes on this channel about the widow's penalty. Robert is already dealing with the single filer tax bracket compression. And then he made three mistakes in rapid succession across 11 months.
Mistake number one, the joint account. Three weeks before Patricia had her stroke, Robert added Jennifer to the checking account as a joint owner. Jennifer is 46 and lives in Tempe. She is reliable, responsible, and the person Robert called first when things went wrong. Robert added Jennifer's name to the account so that Jennifer could pay Robert's bills, manage transfers, and handle financial logistics if Robert was in the hospital or otherwise incapacitated. This is one of the most common financial decisions American seniors make. It is also one of the most financially dangerous.
When Jennifer became a joint owner on the checking account, three things happened immediately that Robert did not know about. First, the account's full balance became Jennifer's legal property as well as Robert's. Joint ownership with right of survivorship means either owner can access the full balance at any time. It also means the account's full balance is exposed to Jennifer's creditors. If Jennifer ever faces a lawsuit, a judgment, a bankruptcy, or divorce proceeding, her creditors can reach the joint account. Jennifer is a contractor. Jennifer has business debt. Jennifer's financial situation, which Robert trusts because Jennifer is his daughter and he has known her for 46 years, is nevertheless a separate legal risk profile from Robert's. And that risk now sits inside Robert's primary bank account.
Second, when Jennifer deposited $22,000 into the joint account over the following months to help Robert cover expenses while he was managing Patricia's illness and estate, those deposits entered the account record that the IRS receives annual 1099-INT reporting on. The account generates interest income. That interest income is reported on a 1099-INT in Robert's name as the primary account holder. The IRS sees $22,000 in incoming deposits and the associated interest income as connected to Robert's tax profile.
Third, and most critically for Robert's future, if Robert ever applies for Medicaid long-term care benefits in Arizona, the state Medicaid agency will review 60 months of bank statements. The reviewing agency will see the full balance of the joint checking account as Robert's countable resource. Every dollar in that account, including the $22,000 Jennifer deposited, is Robert's asset for Medicaid purposes. Joint accounts are not split between owners for Medicaid asset counting. The full balance belongs to the applicant. And the $22,000 Jennifer transferred in, from the Medicaid agency's perspective, does not look like Jennifer's money being deposited for Robert's benefit. It looks like $22,000 that Robert had in excess of what Medicaid expects and that then disappeared into Robert's normal account activity. The joint account opened with the best intentions 3 weeks before a medical crisis created IRS reporting exposure, creditor exposure, and Medicaid resource complications in a single signature on a bank form that took 7 minutes to complete.
Stop the video. Go to the comments right now and tell me one thing. Do you currently have an adult child on your bank account as a joint owner? Not as a payable on death beneficiary? Not as a power of attorney? As a joint owner, meaning their name is on the account alongside yours? I want to know how many people watching this are in Robert's exact situation. Tell me the state you're in. I read every comment. The pattern I have seen in this channel's comment section tells me this is one of the most widespread account structure mistakes in the entire senior population. It is not a complicated mistake. It is not an ignorant mistake. It is a completely understandable response to the fear of incapacity and the desire to make sure family can help. But it has consequences that the bank representative who added the name to the account never mentioned and was probably not trained to explain. Drop your situation in the comments now.
Now, let me walk you through all three mistakes and then the three fixes because Robert's CPA call was not the end of the story. It was the beginning of the repair.
Mistake number two. The inherited IRA cashed out. When Patricia died, Robert went to their shared financial institution and told the customer service representative that his wife had passed and that he needed to handle her IRA. The customer service representative, who was kind and efficient and had a box of tissues on the desk, gave Robert a beneficiary claim form. Robert filled it out. He listed himself as the beneficiary, which he was. He signed the form and handed it back. A check arrived in the mail 2 weeks later made payable to Robert Johnson for $156,000. The institution had withheld 20% of the $195,000 balance, $39,000, for mandatory federal income tax withholding on distributions. Robert received $156,000. He deposited it in the joint checking account. He told Jennifer it was from Patricia's IRA. He thought the process was complete. The process had just started its damage.
A surviving spouse who inherits a traditional IRA has a specific set of options that no other beneficiary has. A surviving spouse can choose to roll the inherited IRA directly into their own IRA as if it were always their own account. In a direct rollover, the IRA custodian transfers the funds directly from Patricia's IRA account to Robert's IRA account. Robert never receives a check. No 1099-R is issued for a taxable distribution. Zero taxable income. The entire $195,000 continues to grow inside Robert's own IRA under his own RMD schedule. Had Robert known to ask for a direct rollover and had the customer service representative offered it proactively, the inherited IRA would have disappeared from the tax equation entirely.
Instead, Robert received a check. The moment the check was made payable to Robert Johnson, the IRS was notified by the custodian via form 1099-R with distribution code one. Fully taxable distribution, no rollover. [clears throat] Robert's 2024 income as a single filer, his $31,200 social Security income with 85% inclusion, adding $26,520, his pension of $16,800, his Schwab dividends of $5,200, and the $195,000 IRA distribution. Total AGI, approximately $243,520. His Medicare Part B premium for 2026, based on his 2024 MAGI, jumped to the fifth tier of the IRMAA schedule. He's paying $628 per month for Medicare Part B instead of $185. That is $5,730 extra per year for 2 years, $10,172 in additional Medicare premiums from a single 11-month-old paperwork mistake, plus the $71,400 federal tax bill.
But here's the thing about mistake number two that makes it different from the other two mistakes. It is the one that has a repair window that closes faster than most people know. The IRS, under Revenue Procedure 2016-47, allows a surviving spouse to self-certify that they qualify for a waiver of the 60-day rollover requirement under specific qualifying circumstances. One of those qualifying circumstances is the death of a family member. Robert, who lost Patricia and was simultaneously managing the estate, the funeral, the household, and the medical bills, qualifies for this waiver under the death of a family member exception.
If Robert files the self-certification with a new IRA custodian and completes the rollover using his own funds to replace the 20% that was withheld, he may be able to treat the distribution as a qualifying rollover retroactively, remove the $195,000 from his 2024 taxable income, and file an amended return that restores his tax situation to what it would have been with a direct rollover. His CPA does not know about Revenue Procedure 2016-47. Many CPAs do not. Robert does not know about it, either. As of the Thursday afternoon phone call where he learned he owed $32,300, he believed the damage was permanent and the tax was simply owed. It may not be, but the window on the self-certification is not open indefinitely. The IRS expects the taxpayer to act promptly upon realizing the error. Promptly means within the same tax year or very shortly after filing, not 2 years from now after the amended return deadline has passed.
Mistake number three, the transfer to adult children. In September of 2025, Robert decided to give his son, Michael, and his daughter, Jennifer, each $40,000. His reasoning was the reasoning of a man who had just watched his wife die, who was living alone for the first time in 41 years, and who looked around his house and his accounts and decided that he wanted to see his children enjoy some of what he and Patricia had built while he was still alive to watch them enjoy it. It was a generous decision. It was the kind of generosity that Robert and Patricia had always talked about. He wrote two checks, $40,000 to Michael, $40,000 to Jennifer, $80,000 total. He felt good about it. He told no one else.
The IRS has two automatic systems that capture those transfers. The first is the bank's currency transaction reporting obligation under the Bank Secrecy Act. For transfers above $10,000, banks required to file a currency transaction report. Robert's $40,000 checks to Michael and Jennifer each triggered CTR filings. The IRS receives those reports. Robert's name, social security number, and the dollar amounts of those transfers are now in a federal financial database.
The second system is the gift tax return requirement. The annual gift tax exclusion in 2026 is $18,000 per recipient per year. Robert gave $40,000 to each of two recipients. He exceeded the annual exclusion by $22,000 per recipient. Robert is required to file IRS Form 709, the United States Gift and Generation-Skipping Transfer Tax Return for the tax year 2026. No gift tax is immediately owed because Robert has a lifetime exclusion of approximately $13.6 million dollars, but the Form 709 must be filed. The IRS cross-references the bank's currency transaction reports with gift tax return filings. If Robert does not file form 709, the IRS sees two large transfers with no accompanying gift tax return and may initiate an inquiry.
But the immediate and most devastating consequence of those two $40,000 transfers has nothing to do with the IRS. It has to do with the Medicaid long-term care look-back. If Robert needs nursing home care at any point before September of 2030, the state of Arizona will examine 60 months of bank statements and find $80,000 in transfers to his adult children 11 months ago. Those transfers, made for less than fair market value, are presumed disqualifying transfers under Medicaid rules. The penalty is calculated by dividing the disqualifying transfer amount by the average daily nursing home rate in Arizona. In 2026, that rate is approximately $375 per day. $80,000 divided by 375 equals 213 days. Robert would be disqualified from Medicaid long-term care benefits for 213 days, during which time he would need to pay approximately $375 out of pocket. The total private pay liability from that 213-day penalty period, approximately $79,875. He gave his children $80,000 in gifts and created a potential private pay nursing home obligation of the same amount. The generosity and the liability are the same number.
Save this video right now. Hit the bookmark. Hit the save icon. Put it in your private library. Because what I am about to walk through is the specific fix for each of these three mistakes, starting with the one that has the fastest closing repair window and working toward the ones where the correction is more preventive than retroactive.
Fix number one, replace the joint account structure. Robert needs to remove Jennifer from the joint checking account and replace the access mechanism with a durable power of attorney. A durable power of attorney names Jennifer as Robert's agent, giving her full legal authority to manage Robert's financial accounts, sign documents on his behalf, make transfers, and pay bills if Robert is incapacitated. The durable power of attorney achieves everything Robert wanted when he added Jennifer's name to the account. Jennifer can access the account, pay bills, and manage Robert's finances in an emergency. The durable power of attorney does not make Jennifer a co-owner of the account. Her creditors cannot reach it. Her divorce or bankruptcy does not threaten it. The account balance is not her asset. The Medicaid agency does not count her access as ownership.
Additionally, Robert should title the checking account in the name of his revocable living trust, if he has one, or retitle it with a payable on death designation to his children, rather than as joint ownership. The POD designation gives the same transfer on death outcome as joint ownership without the legal co-ownership during Robert's lifetime. Removing Jennifer from the joint account and replacing her access with a durable power of attorney takes approximately one appointment with an estate planning attorney and one visit to the bank. Cost? $300 to $500 in attorney time. Protection created? Elimination of creditor exposure, elimination of joint asset Medicaid counting, and preservation of the estate plan's intended distribution structure.
Fix number two. File the self-certification for IRA rollover waiver, explore the amended return. Robert needs to contact a CPA or tax attorney who is specifically familiar with IRS revenue procedure 2016-47 this week, not next month. This week. The procedure allows Robert to self-certify to a new IRA custodian that he meets the conditions for an automatic waiver of the 60-day rollover requirement. The qualifying condition in his case is the death of a family member, Patricia, during the period in which the distribution was received. Robert must open a new IRA or use an existing IRA, contribute the full $195,000, which means coming up with the $39,000 that was withheld from his own funds, and complete the rollover. The new IRA custodian accepts the based on the self-certification. Robert then files an amended 2026 tax return removing the IRA distribution from his income. His tax liability drops from $71,400 to approximately $9,600. He receives a refund of the overpaid withholding. His 2026 Medicare premium, which was set based on his incorrect 2024 MAGI, can be challenged through an SSA-44 IRMAA appeal form citing a life-changing event, specifically the death of Patricia. If the appeal is granted, his Medicare premium is recalculated based on a lower income. The IRMAA spike is reversed. The $10,172 in excessive Medicare premiums over 2 years becomes recoverable.
None of this is guaranteed. The self-certification procedure has specific requirements, but it is real. It exists, and it is the difference between a $71,400 tax bill that feels permanent and a $9,600 tax bill that reflects what Robert's actual tax situation would have been if the customer service representative at the financial institution had offered a direct rollover instead of handing him a form that produced a check.
Fix number three. File the gift tax return and document the transfers. Robert needs to file Form 709 for tax year 2026 reporting the two $40,000 gifts to Michael and Jennifer. The annual exclusion of $18,000 per recipient per year covers $36,000 of the total $80,000. The remaining $44,000 is applied against Robert's lifetime exclusion. No gift tax is owed. But the Form 709 must be filed by the tax return deadline, including extensions, for the year the gifts were made. Filing the Form 709 creates a clear documented record of the transfers and their amounts, which prevents the IRS from treating the bank-reported transactions as unreported income.
For the Medicaid look-back exposure, the practical mitigation is to ensure that Robert executes a Medicaid asset protection trust for his remaining assets as quickly as possible to start the 5-year look-back clock running on the protected assets even though the $80,000 transfers remain inside the look-back window for another 4 years. An elder law attorney can also review whether any portion of the transfers qualify for annual exclusion protection or whether there are other documented purposes that can reduce the characterization as disqualifying transfers. The earlier Robert executes the trust, the earlier the clock starts on protecting his remaining estate from Medicaid recovery.
Now, let me show you the contrast because the difference between Robert's Thursday afternoon CPA call and the Thursday afternoon that never happened is one conversation that Robert never had. Robert and Richard both retired from the same school district, both lost their wives in the same calendar year, both had the same financial profile, same IRA balances, same joint accounts, same desire to help their children, same generous impulse to give their kids something early, same fear of incapacity prompting them to add a name to the checking account.
Robert did not know about direct rollovers, durable powers of attorney, or gift tax return requirements. Robert's CPA was a competent tax preparer who handled his annual return and was not a proactive financial planner who reached out after Patricia died to review Robert's entire financial structure. Robert got a check. Robert deposited the check. Robert wrote two checks to his kids. Robert added Jennifer to the account. Robert did four things in four months that each individually seemed completely ordinary and collectively created a $71,400 tax bill, potential $79,875 Medicaid penalty, creditor exposure on his primary bank account, and $10,872 in excess Medicare premiums.
Richard had the same financial situation and the same life events. Richard's daughter happened to share a video like this one with him 6 weeks after his wife died. Richard called his CPA and his estate planning attorney. Richard was told that his wife's IRA should be rolled over directly. Richard called the IRA custodian, asked for a trustee-to-trustee direct rollover to his own IRA, and was transferred to the correct department where the process took four business days and produced no 1099R. Richard's 2024 taxable income did not include $195,000 of IRA income. Richard's Medicare premium in 2026 is $185 per month.
Richard was told to replace his daughter's joint ownership with a durable power of attorney and did so in a single afternoon. Richard was advised before he wrote the generous checks to his son and daughter that transfers over the annual exclusion require form 709 and carry a Medicaid look-back risk. Richard still made the gifts, but he made smaller gifts, $18,000 per recipient per year, staying within the annual exclusion. He documented the gifts. He filed no form 709 because none was required. The Medicaid look-back shows annual exclusion gifts that are categorically protected in most states from disqualifying transfer treatment. Richard's estate is protected. Richard's bank account is protected. Richard's Medicare premium is standard. Richard's tax bill for 2024 is $9,600.
Robert's total financial damage from three bank account mistakes made in 11 months of grief. $71,400 in taxes, $10,172 in IRMAA surcharges, $79,875 in potential Medicaid penalty, and ongoing creditor exposure on his checking account. Combined exposure over $162,000. All of it reportable to the IRS automatically through 1099R forms, currency transaction reports, and joint account interest reporting that flows to the federal government every January whether Robert knows about it or not. The IRS is not auditing Robert. The IRS does not need to audit Robert. The IRS received the paperwork before Robert's CPA even knew the 2024 filing season had started.
The window on the self-certification procedure is the most urgent item on this list. Revenue procedure 2016-47 requires the taxpayer to act as quickly as reasonably practicable after discovering the rollover error. Robert discovered the error in March of 2026, 14 months after the distribution. The IRS has accepted self-certifications filed within a reasonable period after discovery in circumstances involving death of a family member. 14 months is not outside that window, but 18 months might be. 24 months almost certainly is. If Robert is watching this video and recognizes his situation in the story of the inherited IRA check, the only question that matters right now is whether he has already filed his 2024 tax return. If not, he should not file until he has spoken to a tax professional familiar with revenue procedure 2016-47. If he already filed, the amended return path is still open, but the urgency is even higher because the original erroneous return is already on record.
The joint account fix has no closing window. It can be done this week or next year and the protection it creates starts from the day the change is made. The protection it does not create retroactively covers the period when Jennifer was already on the account. Any Medicare lookback will still examine that period. The fix is still worth doing immediately to stop the ongoing exposure from accumulating further. The gift tax return for 2026 is due by the extended filing deadline of October 15th, 2027. Missing that deadline creates a separate delinquency issue on top of the original oversight.
Three mistakes, three automatic government reporting systems that already have the information, three repair windows with different urgency levels, and one Thursday afternoon phone call that Robert could have avoided entirely with the kind of proactive conversation that should happen automatically every time a senior loses a spouse, inherits a retirement account, adds a family member to a bank account, or writes a large check to an adult child. The kind of conversation that the financial services industry is not structured to initiate because it generates no transaction fee, no annual management charge, and no product commission.
Like this video, subscribe and flip the notification bell, drop your situation in the comments right now. Tell me whether you have an adult child as a joint owner on your bank account. Tell me whether you have ever inherited an IRA and how it was processed. Tell me whether you have made large gifts to family members in the last 5 years without filing a form 709. I [snorts] read every comment. The comment section is where we build the real-world map of how widespread these mistakes are and where the repair conversations are most needed.
Share this video with one recently widowed person today. One person who lost a spouse in the last 2 years and inherited their retirement account and is not certain whether the transfer was processed as a distribution or a direct rollover. One person who added a child's name to the checking account for convenience and does not know what that did to their Medicaid exposure. One person who wrote generous checks to their children while they were alive to see it and did not know about the lookback or the form 709. That person. Today. Not after the CPA calls. Before.
The IRS received Robert's 1099-R in January. The IRS received the currency transaction reports on his $40,000 checks in October. The IRS receives the 1099-INT on his joint account interest every year in January. The Medicaid agency will receive 60 months of Robert's bank statements the day an application is filed. The government systems are automatic, comprehensive, and patient in a way that no individual ever is.
What is not automatic is the phone call to the estate planning attorney. What is not automatic is asking the IRA custodian for a direct rollover instead of a check. What is not automatic is replacing the joint owner with a durable power of attorney. What is not automatic is knowing that revenue procedure 2016-47 exists and that the 60-day rule has a waiver provision that was written specifically for the circumstances of a grieving spouse who received a check they did not understand.
Robert's Thursday afternoon phone call happened because the information in this video was not in front of him on the Wednesday afternoon 11 months earlier when the financial institution handed him a form and processed the check. The form looked official. The check looked correct. The customer service representative seemed helpful. Everything looked like it was being handled. And it was being handled, just not in a way that protected Robert from a $162,000 avalanche of consequences that the government's automatic reporting systems were recording in real time and would eventually make their way back to him in the form of a CPA's voice on a Thursday afternoon in March.
The information in this video costs you nothing to act on. The conversation with an estate planning attorney costs a few hundred dollars. The call to the IRA custodian to ask about direct rollover options costs the hold time. The durable power of attorney costs an afternoon. The form 709 costs a tax filing. The protection those four things create is worth more than anything else you will do with the next four weeks of retirement. Robert is still in the chair. The CPA call ended 20 minutes ago. The tax is real, but so is the revenue procedure and so is the repair. Make the call before the window closes.