Protecting Your IRA

Most people know how important a Retirement Account is in planning for their own future and for the future of their dependents and invest in them accordingly. What people might not know, however, is how difficult it can be to navigate through the numerous IRS rules and regulations when the time comes to enjoy the return on that investment. “The regulations are typically far too complex for clients to navigate on their own…” says Suzanne Barlyn in her recent article, 5 Biggest Estate Tax Mistakes, in which she outlines the 5 most common pitfalls when dealing with Retirement Accounts, and how to avoid them.

The good news is that you don’t have to wend your way through the IRA maze on your own. Knowledgeable advisors can be invaluable in helping you choose how to hold and use your IRA to best advantage. There are even options for those of you who choose to see in an IRA the potential for leaving a legacy for your children.  If that is your wish, we can help you stretch your IRA and protect it for future generations with an Inheritance Trust or Retirement Trust. Barlyn writes in her article, in Pitfall #5, that “An ‘IRA inheritance trust’ is a good suggestion for a client whose beneficiaries are either too young or undisciplined to carry out his or her intentions of stretching an IRA payout over another generation.”

However, the point Barlyn is making in her article is that even for those in the business, IRA planning is rarely clear cut. So dot all your “i”s, cross all your “t”s, and make sure you consult with our office regarding the ins and outs of IRA planning and we can guide you through the complex IRA maze.