Some people watch the Super Bowl for the game, some for the halftime show, and some for the commercials. I think we all can agree that the action on the field this last time around was very exciting indeed! Congratulations to the Underdogs . . . err . . . Eagles! So, who won best commercial? The dancing footballs players were a hoot, and the Tide series was, . . . well, original. We think the winning commercial was the “I’m 85 and I Wanna’ Go Home” E*Trade commercial. Take a look for yourself by clicking here. The thing that makes humor so funny is that little element of truth, and the truth is a tragically high percentage of Americans have little or no retirement savings.
If you haven’t started saving for retirement, by all means, do it now! And while you are at it, remember to talk to your friendly local estate planning attorney about how to plan for monies that might be left in qualified plans such as IRA and 401(k) accounts when you die. No doubt your plan right now is to spend it all, right! We’re just saying, just in case, here are some issues to consider:
- There’s a right way and there’s a wrong way to designate death beneficiaries to achieve the maximum “stretch” to save on income taxes.
- Special precautions might be in order to protect spendthrift, minor, disabled or irresponsible beneficiaries.
- Are your spouse’s contingent beneficiaries the same as yours? Are you confident they will remain that way? If you are concerned that your surviving spouse might disinherit your children after inheriting your IRA, there are solutions to that, too.
Estate planning attorneys figure out solutions for these kinds of scenarios day in and day out so you don’t have to. For whatever concerns you may have, there is usually a tried and true solution. Talk to your friendly local estate planning attorney today such Shasta Legacy Law Center in Northern California.
Thanks to authors at Shasta Legacy Law Center for their insight into Estate Planning.