Coronado Law Office

ESTATE & TRUST PLANNING INFORMATION CENTER

ESTATE & TRUST PLANNING
INFORMATION CENTER

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IRA & Retirement Planning

At first glance, the concept of Individual Retirement Accounts (IRA), 401(k)’s and other retirement plans seems simple enough. It’s a structured way to save for your golden years while deferring taxes on your growing nest egg. Unfortunately, that simple idea becomes one of the most complex areas of estate planning once IRS rules are applied, which is why contacting an experienced estate planning attorney to assist you is essential to your future financial success.

Maximizing the Value of Your Retirement Assets
To ensure you are protected, an estate planning attorney must consider tax reduction techniques as they apply to your individual situation, and interpret complicated income tax rules and IRS regulations. Fortunately, our estate planning attorneys immerse themselves daily in the questions and concerns that IRA investors face in planning their estates.

6 Steps to Begin Planning
As you take steps to organize your affairs, decisions must be made concerning which family members are intended to benefit from the estate plan, which include your IRA and other retirement assets. Each choice you make may have important tax consequences. Consider these steps as you start to plan:

  1. Survey your assets: Such as investments, savings, retirement plans, real estate, life insurance, annuities, businesses, other personal assets, etc.
  2. List key contacts/relationships: Such as estate planning attorney, financial advisor and CPA to use for yourself and your family
  3. Organize important papers: Will, Trust, deeds, beneficiary designations, life insurance policies and account statements
  4. Estimate what you’ll need: To ensure financial security during your lifetime
  5. Define your goals: Such as providing for your spouse, children, grandchildren, charitable donations, etc.
  6. Get professional guidance: From an estate planning attorney, financial advisor and CPA

Are you ready? Call the Coronado Law Office to get started today!

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An oldie, but goodie. … See MoreSee Less

An oldie, but goodie.
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Happy thanksgiving 🥰

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Coronado Law Office, PLLC

3 months ago

Coronado Law Office, PLLC

Operation Medicine Cabinet, October 24, 2020 from 10:00 am to 2:00 pm in different locations throughout the region. Make sure to drop off your expired medications and sharps.Several locations in our area will be collecting expired and unused medications on October 24 from 10 a.m. to 2 p.m. Medication collected will be safely disposed of. Mark your calendars so you don’t forget to take advantage of this great service! … See MoreSee Less

Operation Medicine Cabinet, October 24, 2020 from 10:00 am to 2:00 pm in different locations throughout the region. Make sure to drop off your expired medications and sharps.
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3 months ago

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I’m excited to be attending the American Academy of Estate Planning Attorneys 2020 Fall (virtual) Summit the next 4 days! … See MoreSee Less

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Coronado Law Office, PLLC

3 months ago

Coronado Law Office, PLLC

Another great article by Steve Harnett, Director of Education, American Academy of Estate Planning Attorneys, Inc. This one directly impacts my friends and family born in Puerto Rico. Please pay special attention!

www.aaepa.com/2020/09/puerto-ricans-are-unique-as-is-estate-planning-for-them/?utm_campaign=Acade… … See MoreSee Less

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Puerto Ricans are Unique, as Is Estate Planning for Them –

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Puerto Ricans living in the U.S., their taxable estate includes their worldwide assets, no matter where their assets are located.

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Coronado Law Office, PLLC

3 months ago

Coronado Law Office, PLLC

Great advice from Steve Hartnett, Director of Education, American Academy of Estate Planning Attorneys. I would also add the need to have a Legal and Financial Durable Power of Attorney. Everyone over the age of 18 should have these documents.

www.aaepa.com/2020/10/staying-current-is-especially-important-in-the-pandemic-2/?utm_campaign=Aca… … See MoreSee Less

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Staying Current is Especially Important in the Pandemic

www.aaepa.com

In today’s pandemic, it’s more important than ever to make sure your estate planning documents are current.

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6 months ago

Coronado Law Office, PLLC

This is a great resource in our community for those who have family members, young and old, who tend to wonder. Although the post is from Stafford county, this resource is also available in other counties/cities. … See MoreSee Less

Stafford County Sheriff's Office Project Lifesaver

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7 months ago

Coronado Law Office, PLLC

I just spoke with Amazon about the email below and it was not sent by Amazon. I am posting this in case anyone else receives an email such as this! BEWARE! The email address that it came from is not an email Amazon domain. Call before clicking anything this season! … See MoreSee Less

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