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David Emmanuel Rosen

David Rosen’s Answers

2 total

  • If will states that his daughters are to equally share his estate, including real,personal,mixed property does this include IRAS

    Has house, land, vehicles and IRA's.

    David’s Answer

    IRA's are a tricky asset. The IRS eventually demands its "pound of flesh" (tax dollars). By law, we are required pay the IRS the tax dollars due in an IRA at age 70 1/2. This means, you want to be careful who you name as beneficiary of the IRA after you pass away. For example, if you name your 90 year old mother and your 30 year old child the beneficiary of the IRA - the IRS will demand the tax dollars immediately. You can contact an estate planning attorney to set up a special trust to maximize this asset.

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  • My partner and I are in escrow and we need advice on how to take title to protect ourselves in the future. We are a gay couple.

    I currently own another home that I need to remain in for a primary residence until June of next year. I am acting as a non-occupying co-borrower on the loan for this new house, and I may move in in the future . I will be invested 30% in the home,...

    David’s Answer

    A trust is a good way of holding title to property. Please beware of do-it-yourself documents. There are a lot of "bare bones" living trusts available for download or at the local bookstore. I'm sure we all have different opinions about those documents. Certainly, it is best practice to form a relationship with an attorney.

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