April 05, 2022
If We Have a Legacy Trust if Separate Shares Are Created Before the Required 10-Year Distribution for IRAs How Do the Beneficiaries Share the IRAs?
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning, and tax planning from their offices in Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi. In this week’s webinar, Attorney and Advisor Chris Berry of www.castlewealthlegal.com answers the below questions.
- 0:00 Introduction / Positive Focus
- 2:19 Wo both contributed 7k each to our Roth IRA accounts for 2021. Now we’d like to max out the 22% or 24%. We are now concerned about the income limits for Roth Contributions. If we max out the Roth conversion we will be over the limits for Roth contributions, what do you recommend?
- 11:32 By doing a Roth conversion to a higher tax bracket, won’t this cause our Medicare premiums to increase? Is it worth it?
- 17:50 If we have a legacy trust if separate shares are created before the required 10-year distribution for IRAs how do the beneficiaries share the IRAs?
- 23:11 I have been reading that some banks and brokerages may not honor a POA without a lengthy legal wrangle unless it is on their own form as and on file with them. What is your experience and how do you advise?
- 29:35 anything new that might affect Roth conversion this year or next?
- 34:36 Weekly Webinar Schedule
- 35:16 Define IUL (Indexed Universal Life Insurance)
- 36:07 IRA’s provide future taxes
- 36:45 Why the government wants you to defer paying taxes
About Castle Wealth Group
Contact Castle Wealth Group for all your estate planning needs. We build a perfect strategy for your retirement, including income planning, investment planning, tax planning, health care planning, and legacy planning. Visit our website or call us at 844.885.4200 or email us for your financial advice.
Join our Weekly Wisdom Webinars
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200.