Estate and Retirement Planning
Retirement assets can be extremely valuable as an inheritance, but are often subject to unexpected tax consequences. With proper estate planning, it is possible to protect your retirement assets from unnecessary taxation and maximize the amount you can leave to your beneficiaries.
At the law office of John M. Gasidlo, Esq., we handle a wide range of estate planning matters for clients throughout Connecticut. We can help you make the most of your retirement savings by establishing trusts, wills and other estate planning documents.
Contact us online or by telephone at 866-761-1956 to speak with an experienced Westport retirement trusts attorney.
Connecticut Estate Planning Lawyer
Retirement accounts such as 401(k)s and IRAs can be significant assets. If they are not protected through sound estate planning, however, they can also present a significant tax burden to your beneficiaries. These retirement assets can be subject to not only estate taxes, but income taxes as well.
To avoid adverse tax consequences, it may be in your best interests to put your retirement assets in a trust. Our experienced estate planning attorney can help you explore your trust options, to determine which is best suited to protecting your retirement assets.
Types of Retirement Trusts
You can leave retirement assets in either a conduit trust or an accumulation trust. A conduit trust automatically qualifies as a designated beneficiary under Internal Revenue Service regulations. An accumulation trust, however, must meet a number of qualifications. An accumulation trust, for example, must be irrevocable upon death and must have designated beneficiaries.
With proper estate planning, it is possible to get the most out of your retirement savings. We want to help you enjoy your retirement assets while you are alive and help your beneficiaries avoid tax consequences upon receiving them.
Contact Us
If you need legal guidance concerning estate planning and retirement savings, we are here to help. Contact us online or by telephone at 866-761-1956 to speak with an experienced Westport estate planning attorney.
