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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.

      Comments (0) | Visits (641)

      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 ...
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      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 ...
      Comments (0) | Visits (1786)