How to Maximize an INheritance

By Stuart Williams | Estate Planning Lawyer

In order to maximize an inheritance for legacy style planning, it must first be inherited in a way that will avoid the administrative fees and other unnecessary financial waste that can occur during probate.

Once probate is avoided, the inherited assets should be protected from the possibility of your child's future failed marriage, bankruptcy, or other lawsuits.

Furthermore, if you have a tax-deferred retirement savings plan (401K, 403B or SEP), you should ensure that when these assets are inherited, they won't be squandered on taxes and instead, a plan is in place to force preferred tax-saving strategies that will allow your IRA to continue growing for many years after you're gone!

The financial benefit to a family who optimizes how assets are inherited with legal protection and maximization principles, can be staggering in comparison to a family who does not use these protection and maximization strategies.

In essence, when protection and maximization principles are added to our clients' estate plans, they are able to offer their children 30 or more years of tax-deferred growth from their 401K, SEP, or other IRA based on the life-expectancy of their children.

What would 30 more years of growth (from the date of your death) do for your IRA?

At Family Wills & Trusts, PLC you’ll work with a personal planning lawyer whom you’ll come to know on a first name basis. You’ll be able to call if you ever have questions and we’ll be here to answer questions for your family someday too.

For more information about maximizing your child's inheritance (with no change to your current financial investment strategy), request more information or schedule an appointment below.