Estate Planning - Setting up a 'Legacy' or Stretch IRA can double and even triple the current value of your qualified retirement account's value to your heirs. Unfortunately, all too often a minor and easily correctable error by most retirees can turn this tax benefit into a tax burden for your heirs.
Will setting up a trust benefit you or trigger severe maximum taxation of these major liquid assets? Trusts are great planning tools. But all tools can be hurtful if not properly used. Coordinating your specific assets with a trust plan can reveal great planning opportunities and some possible severe pitfalls.
We prepare no legal documents. We work thru and with your lawyer and accountant to review and discuss many options. Each option will have some benefits and each will have some detriments. You should solicit at least two or three opinions and study the advantages and the negatives of each strategy.
We will not bill you per hour. When appropriate, we may use life insurance, annuities, or long-term care insurance policies to implement some strategies. In those cases an insurance company would pay us a fee. Have your advisor call us.
ALL INITIAL CONSULTATIONS WITH YOU ARE FREE OF CHARGE
AND WITH NO OBLIGATIONS
Please contact him at: 413-747-5500 or RPellet442@aol.com.
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