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Home / Estate Planning / IRA & Retirement Planning

IRA & Retirement Planning

Retirement Plans and Estate Planning

At first glance, the concept of Individual Retirement Accounts (IRA), 401(k)’s and other retirement plans seems simple enough: A structured way to save for your golden years while deferring taxes on your growing nest egg. Unfortunately, that simple idea becomes one of the most complex areas of estate planning once IRS rules are applied.

Maximizing the Value of Your Retirement Assets

To ensure you are protected, an estate planning attorney must consider tax reduction techniques as they apply to your individual situation, and interpret complicated income tax rules and IRS regulations. Fortunately, our estate planning attorneys immerse themselves daily in the questions and concerns that IRA investors face in planning their estates.

6 Steps to Begin Planning

As you take steps to organize your affairs, decisions must be made concerning which family members are intended to benefit from the estate plan, which include your IRA and other retirement assets. Each choice you make may have important tax consequences. Consider these steps as you start to plan:

  1. Survey your assets: Such as investments, savings, retirement plans, real estate, life insurance, annuities, businesses, other personal assets, etc.
  2. List key contacts/relationships: Such as estate planning attorney, financial advisor and CPA to use for yourself and your family
  3. Organize important papers: Will, Trust, deeds, beneficiary designations, life insurance policies and account statements
  4. Estimate what you’ll need: To ensure financial security during your lifetime
  5. Define your goals: Such as providing for your spouse, children, grandchildren, charitable donations, etc.
  6. Get professional guidance: From an estate planning attorney, financial advisor and CPA

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There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

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TESTIMONIALS

Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

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Brian C.

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