Matthew J. Ure

RMA
Personal Finance, Retirement, Investing
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“The whole is greater than the sum of the parts- when all parts of a financial life are put together properly, incredible value is captured! ”
Firm:

Anthony Capital, LLC

Job Title:

Vice President

Biography:

Whether your question is about social security draw age, balancing risk and return in an investment, tax planning, or which strategy you should use to cover long term care needs, your chance for success improves dramatically with accurate information. Matthew believes his role is to guide clients through these trade offs using various tools, experience, and his training as a certified Retirement Management Analyst which centers every decision on improving retirement outcomes using math and science. 

Matthew has become an expert in optimizing the financial lives of public and private sector employees.   Several years ago, recognizing a huge need for benefits education and basic financial planning, he teamed up with The Society for Financial Awareness to offer workshops, seminars, and private consultations with a goal toward education. This collaboration has given thousands of public and private sector employees access to fiduciary advice while requiring no minimum investment amount. This educational approach that focuses on the best interest of the person has created millions in dollars of value for the attendees and their families.  

 He is a well know presenter in San Antonio and surrounding areas having taught hundreds of seminars touching on subjects ranging from debt solutions, investing, Social Security, pensions, insurance, and other financial topics. 

Being the 8th of 11 children- Matthew has real life experience in financial planning as he put himself through college, graduating from Brigham Young University with no debt and money in the bank.  He speaks fluent Thai and enjoys traveling whenever occasion permits. His personal life centers around being a father to 3 boys and husband to a beautiful and creative wife.

Education:

Brigham Young University

Assets Under Management:

$14 million

Fee Structure:

Fee Only

CRD Number:

6444268

Insurance License:

#1974612 TX

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    Retirement, Annuities, IRAs, Taxes, End of Life
I received money from my sister's annuity after she passed and it went into an IRA of mine; how do I transfer half of this amount to a sibling?

I'm sorry to hear about your sister's passing.  While you can gift money to your sibling, there could be large tax problems for both of you if you do so.

Alot of what you're asking depends on a few important details: How long ago your sister passed away, whether the money was left to you as beneficiary or because of probate proceedings, what type of account the money went into when it transferred to you, and the amount that was left to you and your sibling? 

The finer points really matter on this because the IRS is going to hold someone responsible for the taxes on each of these transfers- which could mean problems for you if it's not done correctly. 

Here are a few concerns I have from what you've described: The money should not have gone into your IRA because it should have become a beneficiary IRA. Further, if the money was to be split it should've been done before going into your account depending on how the estate was handled. Lastly, sending her money could have huge tax implications if done improperly and this ties into whether it was a will or beneficiary.

I'd recommend you find a competent financial planner, tax attorney, or CPA.

 

3 days ago
    Military / Veterans, Investing, Starting Out
What are the best investment vehicles for a young, new investor looking for simple, long-term investments?
100% of people found this answer helpful
3 days ago
    Banking, Investing, Stocks, Insurance, Starting Out
At 21 years old, would it be wise to invest in CDs or go straight to financial market investments?
100% of people found this answer helpful
2 weeks ago
    401(k)
Is it possible to combine four 401(k) plans into one?
100% of people found this answer helpful
2 weeks ago
    Debt, Retirement
Should I borrow from my thrift savings plan (TSP) to pay off $45,000 of credit card debt?
100% of people found this answer helpful
3 weeks ago