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| IRA Legacy Planning: Protecting Your Life Savings
If you're like most Americans, your IRA (or qualified plan) is one of your largest, most important assets and represents a lifetime of savings and sacrifice. That's why protecting and preserving your retirement savings is critical. If handled properly, your IRA can sustain you throughout retirement and provide an abundant, meaningful legacy for your loved ones and favorite charities. However, without proper planning and handling, you and your beneficiaries could end up losing as much as 80% of your retirement savings to excess, unnecessary taxes.
Legacy Planning For Your IRA
IRA Legacy Planning ensures that all aspects of your IRAs and qualified plans are in order and properly incorporated into your estate plan. Its objectives include:
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Increasing the magnitude and longevity of your retirement savings -
Minimizing taxes on the distribution and transfer of your retirement savings during your lifetime and at death -
Helping you provide meaningful, long-lasting legacies for your loved ones and favorite charities -
Ensuring the "Stretch IRA" (the ability for your beneficiaries to stretch the distributions from their inherited IRA over their lifetimes—minimizing taxes and increasing the tax-deferred growth potential of your IRA) -
Helping you and your beneficiaries avoid common, critical mistakes and oversights that often result in excess, unnecessary taxes or (in the worst case scenario) the inadvertent liquidation of your IRA -
Educating your beneficiaries on how to properly and effectively inherit and handle their inherited IRAs and qualified plans -
Communicating to your beneficiaries your specific instructions for how you would like them to handle their inherited wealth as well as your hopes for how their inheritance will enhance their lives.
How Safe is Your Retirement account? Find out HERE. |
HOW SAFE IS YOUR RETIREMENT NEST EGG?
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PEOPLE ARE TALKING
"a financial advisor you need to know if you are serious about protecting and preserving your retirement savings and being able to capitalize on little-known tax rules that can have a multi-million dollar impact for you and your beneficiaries.
I hope you take advantage of this opportunity to work with him as your personal financial advisor."
Ed Slott, CPA
Partner at Ed Slott and Company, speaker and author of five books on retirement and IRAs
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