Retirement Planning

The value of retirement plans has greatly increased during the past two decades. The tax deferred growth available with an IRA, 401(k), 403(b) or other retirement vehicles offers some tremendous financial advantages. However, to ensure your estate and your heirs will receive the fullest possible benefits from your lifelong investments, you retirement assets must be carefully coordinated with your overall estate plan.

Although an important asset within your estate plan, retirement and pension accounts have special rules on taxation, distribution and exclusions. Hilliard Olson Law and Mediation can provide the necessary counsel to help you through the legal and governmental maze.

Proper planning enables retirement account owners to maximize benefits to heirs, preserving wealth and maintaining control of these assets. Special kinds of trusts and other entities can be designed to achieve this objective.

Your overall estate plan should integrate retirement assets, giving full consideration to minimizing estate taxes relevant to distributions. It may be important to make your family and beneficiaries aware of your plans and details of the estate to avoid confusion or misunderstandings in the future.

Hilliard Olson Law and Mediation can walk you through the steps necessary to structure an effective retirement estate plan.