“The measure of life is not its duration, but its donation” – Peter Marshall.

It is not uncommon for a large portion of your wealth to be concentrated in tax-deferred retirement accounts such as IRAs and 401(k)s. From an estate planning standpoint, planning for these qualified accounts brings its own sets of issues and concerns. Because of their tax-deferred nature, the tax consequences can be significant, and mistakes quite costly. The special nature of these funds also impacts charitable giving decisions. If you want to make sizable gifts during your lifetime, you may turn to your qualified retirement account(s) for these gifts. In so doing, however, you could meet head-on with negative tax consequences….

Read More »