Planning with Retirement Benefits

Congratulations on having a retirement savings plan. Statistics tell us that we are living longer, and you can look forward to being around to enjoy it! But are you aware of the income, estate, and penalty tax issues that will govern your yield, use, and transfer of this hard-earned capital?

When creating estate plans, people often give appropriate attention to using trusts and other tools to transfer non-retirement assets to their loved ones. But they often neglect what might be their most significant asset – their retirement plan funds. In other cases, they might designate their trust or child as beneficiary without understanding the ramifications. That’s why it’s vital to coordinate this asset with your documents and planning objectives.

We offer advice on:

• The tax advantages of retirement benefits
• Roth conversions
• Minimum required distributions, both during lifetime and after death
• Spousal rollovers
• Stretchouts
• Estate planning for retirement benefits
• Trusts as beneficiaries of retirement benefits

In order to get everything you are entitled to from your retirement savings, you must understand the distribution options and beneficiary designations available under plans and retirement assets, the types of investments that can be held within the qualified plan or IRA, how to optimize the income and estate tax benefits on all distributions, and coordinate retirement benefits within the context of your plan. Only in this way will you prevent costly errors and unintended results.