The Law Office of John E. Hampton & Associates, P.C. works with you to make retirement plans active plans part of your comprehensive estate plan.
Create A Plan
In today’s world where we all seem to be more on our own in providing for retirements, many choices lay before us. We want to help you think through the many factors that go into choosing among the retirement plan options that are available to individuals and businesses. With so many financial products for sale the choice of retirement plan, don’t leave money on the table, bite off too much or miss a break. Call us.
Manage Existing Plans
We advise you on the best ways to make the most of the value of your existing retirement plan. We can help you maintain your beneficiary designations, ensuring that the right people will receive the benefits from your plan (and life insurance) in the manner that you choose. Not doing so can result in an intended beneficiary being disinherited and the money being received by unintended persons.
Steering away from pitfalls is also important. Many people without the experience or judgement to make good decisions have received all of the beneficiary proceeds from a retirement plan because the structure to preserve those funds was not put together. On other occasions, the IRS’s rules for trusts were ignored and forced a payout prematurely to the client’s wishes.In several types of retirement plans, a spouse is automatically a beneficiary unless the spouse signs a waiver. Unintended consequences can result.
Let us strategize with you about who the best beneficiary would be and account for all of the other relevant issues to achieve your goals for retirement.