Monday, July 05, 2010

Banks get into geriatric care management; recap on ROTH

Kelly Greene has an article on the recent interest in banks and financial advisors in providing geriatric care management services, as in this Wall Street Journal article on June 26, 2010 under “Family Value”, link here.

Banks will be pro-active when they discover evidence of elder financial abuse, and like geriatric care managers can look for specific kinds of evidence of abuse in audits.

Banks also find that they can attract other kinds of business by offering these services.

Greene had a long article on Roth IRA’s in the June 20-21 Weekend Wall Street Journal, 2009 page R1, and it seems to have dropped off online.  I found it lying around the basement today. The article discusses the removal of income limits Jan 1 2009 (was discussed here in a post June 23, 2009). The three advantages of ROTH IRA’s seem to be here (1) tax free withdrawal given minimum holding periods (2) no required distributions at 70-/12 (3) heirs don’t owe income tax on withdrawals.

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