Retirement benefits come in many forms, and are subject to special rules regarding the naming of primary and secondary beneficiaries, and often complex family issues. The estate planning attorneys of Shatz, Schwartz and Fentin can help you avoid common pitfalls regarding retirement benefits.

For example, special income tax issues can arise when a trust is the beneficiary of a retirement plan. The entire value of the plan could be subject to tax if trust provisions are not carefully drafted. Careful consideration of beneficiary designations also maximize tax benefits.

Use of an individual retirement trust, available from some plan administrators, or transfers under the Uniform Transfers to Minors Act can also be used to prevent unnecessary taxation of retirement benefits.
Retirement benefits need to be taken into account with many estate planning techniques. Please call us if you have questions about coordinating your retirement benefits with other aspects of your estate plan.

For assistance contact attorneys Steven J. Schwartz, Timothy P. Mulhern, Ann I. Weber, Carol Cioe Klyman, Michele J. Feinstein, Gary S. Fentin or David K. Webber.