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Krause Financial Services' Holiday Hours

6/30/2011 8:57 AM

Wishing you and Independence Day filled with pride in our country, and the companionship of family and friends.

In observance of the holiday, Krause Financial Services will be closed Monday, July 4, 2011. Normal business hours will resume Tuesday, July 5, 2011.

Annuity Contract - What Happens at the Death of the Owner?

6/21/2011 2:00 PM

For any annuity contract issued after April 22, 1987, it must terminate upon the death of any owner and benefits will then be paid to the designated beneficiary. The death of any owner will trigger the termination of the annuity contract even when the contract is owned by a number of individuals - husband and wife. See Internal Revenue Code ("IRC") § 72(s)(1). However, when a non-natural person owns an annuity contract, then the primary annuitant will be treated as the owner ...

Required Minimum Distributions - Traditional IRA vs. Employer-Sponsored Plan

6/9/2011 1:36 PM

The Internal Revenue Code ("IRC") mandates that an IRA owner must begin taking required minimum distributions ("RMD") at age 70½. However, a strict reading of the pertinent sections of the IRC permit an IRA owner to delay taking RMDs until April 1st of the year following the year in which he or she turns 70½. This date is known as the required beginning date ("RBD"). From the RBD forward, a distribution must be taken by December 31st of each year. Typically, clients are advi ...

Disclaimer: Krause Financial Services is incorporated in the State of Wisconsin. Dale M. Krause, and Krause Financial Service, Inc., by means of this web site, is not offering legal advice. With respect to the material contained in this web site, some of the material may be affected by current and future changes in law. For those reasons, the accuracy and completeness of such information, and the opinions of its author, are not guaranteed. In addition, because of the complexity and interrelationship of various areas of law which are presented in this web site, from which there may be certain exceptions or limitations, the strategies and plans outlined in this web site may not be suited for every individual, in every state. As such, it is strongly suggested that before employing any one, or more, of the techniques, strategies, expositions of any law, the reader should secure the services of a competent elder law attorney in their respective state.