You’ve spent your entire life building up your retirement account. It may even be the biggest asset you’ll leave behind for the people you love.
If that’s the case, you may want to consider creating a special trust designed specifically to receive your retirement account assets in the event of your death.
If you leave your retirement account to the people you love outright, simply by naming them as beneficiaries on your retirement account rather than through a special trust, here are the risks:
Here’s the good news, it’s not hard to protect your retirement account for your beneficiaries with the right planning. We use a variety of special trusts to ensure the retirement assets you’ve worked so hard to build up throughout your life are passed on to the people you love so they are totally protected from a future divorce, creditors, bankruptcy and so that they do not create conflict for your loved ones.
If you have a significant retirement account whose designated beneficiary is your spouse or children, or even your regular revocable living trust, call us to have your planning reviewed immediately.