The good news about that is that generally, you will be able to treat that account as a "spousal rollover IRA if inheriting from your spouse. If the owner is not your spouse, you may be able to treat it as an Inherited IRA or "Stretch IRA," which has some significant tax advantages to you.
Many people make plans for various aspects of their retirement, but how many plan for their mental health as they grow older? The Journal of the American Society of Neurology reported a study last year showing how to plan to reduce the chances (and severity) of dementia. The report showed that older people who engage in regular exercise experience far less cognitive decline than those who get little or no exercise. The difference in cognitive decline is equivalent to the decline you would expect from ten years of aging.
The IRS repeatedly publishes warnings about scams by people posing as IRS agents and demanding either money or information from taxpayers. The scams usually involve dire warnings and threats about what might happen if the taxpayer fails to cooperate. The IRS warns that it "will never initiate contact with taxpayers via email about a bill or refund." Also, it never asks for payment by credit card, iTunes or PayPal.
Family Plan is a Matter of Trust
Mike Illitch, who bought the team for $85 million in 1992, died Feb. 10 at age 87. Because his widow, Marian Illitch, owns MotorCity Casino Hotel, she is prohibited from inheriting the Tigers under Major League Baseball's rule that forbids team owners from having any stake in gambling operations.