How We Can Help You Protect Retirement Assets
When you die and have a person designated as the beneficiary of your retirement account [IRA, Roth IRA, 401(k), SEP or 403(b)], that person can take a lump-sum payment which is like handing them a blank check to all your retirement account savings. For some, this scenario is no big deal. But for anyone wanting to leave a financial legacy, the situation presents problems.
This is because not only does your retirement account beneficiary have access to the entire account, but your beneficiary’s creditors, nursing homes and ex-spouse’s divorce lawyers also have access. Fortunately, recent changes in IRS rules allow retirement accounts to be left to beneficiaries through a trust. This allows you to make sure that your beneficiary only takes out the minimum required distribution each year and if necessary, can protect all distributions from any unforeseen creditors and predators of your retirement account beneficiary. Limiting your beneficiary to minimum required distributions through your trust makes it more likely that your wealth will reach subsequent generations and makes sure it stays out of the hands of adverse parties.
With more than 40 years of experience in estate planning, Walker Law Group, L.L.C., can provide the know-how and answers to your questions about protecting your retirement accounts.
Creating An IRA Protection Trust
No matter what particular concerns you have involving your retirement account beneficiary – poor financial management, spendthrift spouse, in-law influence, addiction, creditors, lawsuits, divorce – Mr. Walker can help you avoid unexpected problems such as these by naming a trust to control things on behalf of your beneficiary. The IRA protection trust provides a simple solution to what can be a major unexpected problem at the time of your death. Mr. Walker will explain how it works, its benefits and answer your questions.
Leaving Loved Ones A Financial Legacy
By working with Mr. Walker and his team, you will become smarter regarding how to control and protect your assets. Here are some essential steps to consider to leave a financial legacy for your family:
- Keep control
- Know the law
- Know your predators
- Be prepared if your health fails
- Plan now while you can
- Work with qualified professionals
- Know the costs and benefits
You have a seasoned legal ally in Mr. Walker. For decades, he has passed along vital knowledge and insight to thousands of his clients. His devotion to clients and relationship-building skills have benefited many people in Central Louisiana.
Call A Knowledgeable Attorney Now
You are not the only person who wants to protect your retirement assets. You need answers and guidance, and you will get them from Walker Law Group, L.L.C. Mr. Walker empowers his clients through experienced guidance and regular estate planning seminars given throughout the Central Louisiana region. For an initial free no-obligation consultation, please fill out this online form or call 318-445-4516.