7 More Family Office Resources:

• Required Minimum Distributions Family Office Definition: Required Minimum Distributions Required Minimum Distributions definition:  Required minimum distributions are calculated (using fair market value and life expectancy) and applied to the owners of traditional, SEP, and SIMPLE IRAs at ...
• September 30th Required Minimum Distributions Family Office Definition: September 30th Required Minimum Distributions September 30th Required Minimum Distributions definition:  When a retirement account has multiple beneficiaries, the oldest beneficiary's age is used to calculate life expectancy required minimum distributions. ...
• Medical Savings Account Family Office Definition: Medical Savings Account Medical Savings Account definition:  A medical savings account (also called Archer MSA) is a tax-exempt savings vehicle for medical expenses for self-employed individuals (or small business or family ...
• Health Savings Account Family Office Definition: Health Savings Account Health Savings Account definition:  A health savings account (HSA) is a tax-exempt savings vehicle for medical expenses. Family members may make contributions on behalf of other individuals. Money ...
• Taxable Account Family Office Definition: Taxable Account Taxable Account definition:  Taxable accounts are good candidates for leaving to heirs because the holdings are stepped up in basis at the date of death.  Heirs will not be ...
• 529 College Savings Plan Family Office Definition: 529 College Savings Plan 529 College Savings Plan definition:  A 529 college savings plan is a tax-advantaged savings vehicle for education expenses. Contributions to 529 plans for grandchildren (or other heirs) ...
• SEP IRA Family Office Definition: SEP IRA SEP IRA definition:  A SEP IRA is a tax-deferred retirement savings vehicle for self-employed or small (family businesses). SEP stands for Simplified Employee Pension. Testing and compliance associated with ...