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February 19, 2009




Legal document issued by the court, appointing a legal guardian to handle the financial affairs of a person who is unable to handle such affairs due to  being physically and/or mentally incapacitated.

An individual who has a durable power of attorney may negate the need to have the court appoint a conservator

Referring Cite

State law

Additional Helpful Information

The IRA custodian/trustee or plan trustee should review the document to determine whether it places any limitations on the transactions that can be legally performed by the conservator.


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Applicable RMD Age

Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs

SIMPLE 401(k) Plan

Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions

Required Minimum Distribution (RMD)

Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.  For retirement account

Required beginning date (RBD)

Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional,  SEP or SIMPLE IRA, a

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