Can Your Family Trust Your Retirement Plan?
- Posted in: Asset Protection
When it comes to retirement plans there is no one-size-fits-all situation. And not all plans are created equal. A traditional family will need a different plan than a blended family with stepchildren; a divorced man will need to plan differently than one who has never been married. How can you know which plan is right for you?
The New York Business Wire has published an article with a series of tips to help you plan for your unique retirement situation. The article caters specifically to non-traditional circumstances—such as blended families or single women—and the distinct challenges they face.
One of the article’s recommendations is to establish a trust to protect your estate from ex-spouses and keep it safe for your children. As a firm that has helped many families set up trusts to keep their retirement intact for the benefit of their children, we know what a crucial step this can be.
If you’re wondering whether or not a trust is really going to have what you need to achieve your goals, you should know that there are as many types of trusts to protect your retirement as there are families who need protection. Some families may want a full-blown Retirement Trust; others may be satisfied with the protections offered by the basic Revocable Living Trust. Whatever your intention, a trust can help you attain it.
Whether your situation is traditional or not, each family’s needs are unique. Give us a call to discuss your plans for retirement. Make sure your future is protected—for yourself and for your loved ones.