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390 items found for "ira protection trust"
- It’s That Time of Year!
” notes that one of the extenders in limbo is the option for people age 70½ and older to donate an IRA a good idea for elderly folks to sign emergency contact forms—before it’s needed—that authorizes a trusted
- The Importance of Estate Planning for Young Families
Estate planning ensures your children are cared for by those you love and trust. By setting up trusts and other legal structures, you can ensure that your assets are protected for your Set up trusts. Trusts are legal structures that allow you to transfer your assets to a trustee who manages them for Trusts can help you avoid probate, minimize estate taxes, and protect your assets from creditors and
- Young Hispanics Need to Start Saving for Retirement
Reference: CNN Money (March 2, 2016) “The retirement crisis facing Hispanics” #AssetProtection #IRA #401k
- Preparing for the Unexpected
2016) “Why You Should Prepare Now for the Death of a Spouse” #AssetProtection #EstatePlanningLawyer #IRAs
- Create a Road Map for the Care of Your Special Needs Child
severe disabilities are living longer than ever, so it’s critical to create a financial plan that will protect Your attorney may advise you to create a Special Needs Trust, which will protect benefit eligibility. When you die, you leave your assets to the trust instead of giving them directly to your child. A child’s benefits pay for basic needs and a special needs trust could pay for extra things such as music Some parents do not set up a trust and leave the entire estate to their other children with the expectation
- Is a Living Trust for Me?
“You should steer clear of ‘living trust mills,’ which hold themselves out as estate planning specialists A living trust lets you transfer assets to the trust and, if done properly, may transfer those assets A living trust is revocable, which makes it very flexible. have to stay in the name of the trust. Living trusts are very complex legal documents—one-size-fits-all doesn’t work.
- The 411 on Health Savings Account Rollovers
Account,” advises that you can make a tax-free rollover into an HSA (health savings account) from an IRA—but you have a 401(k) from a former employer, you may be able to make the move by rolling it over into an IRA first and then making a tax-free direct transfer from the IRA into your HSA. Here’s the big point to keep in mind: you can make a tax-free rollover from an IRA to an HSA only once Rolling over Retirement Savings to a Health Savings Account” #AssetProtection #EstatePlanningLawyer #IRA
- SPECIAL NEEDS PLANNING 101 | SPECIAL NEEDS LAWYERS IN HOUSTON
The Special Needs Trust It is not enjoyable to think about how your loved one will continue on without The special needs trust is one of the best tools you can use. Simply leaving your assets in a will does not afford this same kind of protection and can cause some – This person will manage the assets of the trust for your loved one’s financial support. · Providing The trust will allow you to lay out those needs, as well as your wishes for him or her.
- Don’t “Just Wing It” When it Comes to Retirement Planning
Unless your assets are in a Roth IRA, when you start withdrawing your money from other sources, there Work with a qualified estate planning attorney to build in significant protection for the next generation A properly created trust will help to avoid probate for the assets in that trust. Need to Stop Winging It with Their Retirements” #AssetProtection #EstatePlanningLawyer #EstateTax #IRAs
- Why You Should Have an Estate Plan
One way to plan for this situation is to make use of incentive trusts. These are a type of trust designed to encourage or disincentivize certain behavior. A special needs trust, on the other hand, may protect a beneficiary from losing government benefits or However, if they are a minor, it may be advisable to set up a trust that will allow the trustee to control Trusts allow you to control how your assets are distributed and can cover specific circumstances.
- Why You Need a Medicaid Planning Lawyer for Your Estate Plan
Asset Protection Trusts Asset protection trusts are trusts created to protect your assets from being These trusts are irrevocable, meaning you cannot change them once they are created. They are typically created for the benefit of a spouse or children, and the trust assets are not counted Trusted Medicaid Planning Lawyer in Houston, Texas Medicaid planning is a crucial aspect of estate planning Doing so can ensure your assets are protected, and your estate is preserved for your loved ones.
- Make Lower RMDs When Your Retire
that action: tax regulations stipulate that you are required to take withdrawals from your traditional IRAs You typically must begin taking withdrawals from your IRA, SEP IRA, SIMPLE IRA or retirement plan account when you reach age 70½, but Roth IRAs do not require withdrawals until after the death of the owner. August 2016) “6 Tax-Smart Ways to Lower Your RMDs in Retirement” #AssetProtection #EstatePlanningLawyer #IRAs