NHTSA clarifies odometer disclosure rule, paving path for digitized registration
Electronic signatures are permitted on all odometer disclosures, a clarification that could be crucial to the movement to digitize title and registration processes.
The Savings Game: Explaining successor beneficiaries, other questions
Q. Can you explain the regulations regarding successor beneficiaries of IRAs?
A. A successor beneficiary is the named beneficiary of an individual who has inherited an IRA. It’s important, if you are the beneficiary of an IRA, that you name a beneficiary of your inherited IRA immediately to avoid probate.
Successor beneficiaries must use the 10-year rule. If the original beneficiary has been using the 10-year rule, the successor beneficiary must continue to use the 10-year rule using the life expectancy of the original beneficiary.
For example, suppose your brother, Thomas, inherited an IRA from his mother three years ago who was taking yearly RMDs. He used the 10-year rule and had taken required minimum distributions (RMDs) for three years. You would be required to continue taking RMDs for seven years using Thomas’ single-life expectancy. At the end of seven years, you would have to distribute the remaining assets in the IRA.
If you inherited an IRA from someone who, as a beneficiary was withdrawing distributions on his life expectancy, (not the 10-year rule), you would be allowed to establish a 10-year rule for yourself and use the single life table based on the original beneficiary’s age.
BP keen to buy Tesla supercharging sites for U.S. expansion
BP Plc’s electric vehicle charging arm is eager to snap up Tesla Inc. supercharging sites across the US — along with the workers behind them — and has pledged $1 billion to expand its network.
People on the move
Boards of directors
Erica Shay, director of marketing and business development, Matern Professional Engineering, was appointed as chair of the Lake Eustis Area Chamber of Commerce board of directors.
Construction
Ryan McDavid was promoted to director of business development at T&T Construction Management Group Inc., Casselberry.
Education
Lauren Smith was appointed dean of the Hamilton Holt School at Rollins College, Winter Park.
Health care
Jules Johanson-Jones was appointed national director of life engagement and memory care at Orlando-based Bridge Senior Living.
Real estate
Adam Roark has joined The McKee Group at Compass Florida as a real estate advisor.
Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.
First Black female Lexus dealer Ellenae Henry-Fairhurst dies
Henry-Fairhurst made her landmark purchase of an Infiniti dealership in 1999.