Q:  At age 70 1/2 do I have to withdraw funds monthly from my retirement account?

A: The April 1st after age 70 1/2 is when withdrawals must start.  The mandatory distribution is an annual amount that needs to be withdrawn in any method you feel comfortable with: monthly, quarterly, semi-annual or annual.

Q: I have an unemployed Niece, can I make an IRA contribution for her?

A: The only way to make an IRA contribution for someone who is unemployed is to do it for a spouse.

Q: I am 73, living in Florida.  Is having a will enough to avoid probate?

A:  Just the opposite is true.  A will invites probate, which is the proof that a will is valid and that its terms are being carried out.