Retirement Planning
– Overview
Retirement planning is crucial as the majority of clients that wish to have an Estate Plan created carry the bulk of their wealth in retirement accounts. Commonly, an IRA, 401(k), or 403(b) contain a large portion of the estate. So, how do Estate Planning and Retirement Planning work together? A knowledgeable Estate Planning attorney, such as Shulman Law, will discuss ALL assets with you and advise you on the tax implications for your estate, and even include a referral to a tax specialist, such as a CPA, to assist with the planning. Keep in mind that the number one goal of Estate Planning is to limit the headache for your heirs, and to limit the financial exposure after you pass.
In speaking with an Estate Planning attorney, an important question is: should we create a trust? This is not an easy question to answer and is unique to every situation. The attorney will take into account your assets, who you beneficiaries are, whether you’re married, if your beneficiaries are minor (or have spending issues), and many other considerations. Any attorney working on an Estate Plan for you should require a lengthy pre-drafting meeting or a comprehensive worksheet to make sure that all of your assets are discussed. At Shulman Law, not only do we complete a thorough “fact finder”, but we also educate our clients to ensure comprehensive planning. A small detail, such a beneficiary update or a Payable on Death designation, can save a client’s beneficiaries time, money, and aggravation.
Shulman Law is a full service Estate Planning Law Firm that can assist with all areas of Estate Planning, including: Contested Wills, Health Care Surrogate, Power of Attorney, Guardianship, Pre-need Guardianship, Inheritance, Living Wills, Missing Heir Searches, Contested Trusts and Estates, Decedents Estates, Estate Administration, Estate Litigation, Estate Planning, Estate Planning for Parents of Handicapped Children, Estate Planning for the Disabled, Estate Planning for the Elderly, Estate Planning for Unmarried Couples, Estate Planning for Gay and Lesbian Couples, LGBTQ Estate Planning, Estate Settlements, Family Trusts, Family Wealth Transfer, Financial Planning, Living Trusts, Personal Planning, Pet Trusts, Powers of Attorney, Revocable v. Irrevocable Trusts, Retirement Planning, Special Needs Trusts, Trust Administration, Trust and Estate Collections, Trust Law, Trust Litigation, Trust Planning, Unclaimed Property, Wealth Planning, and Wealth Preservation.