July 29, 2022
Can I Convert 401K Fund to Roth IRA While I’m Still Working?
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
- 1:51 Dad’s old trust does not have a Certificate of Trust. In trying to sell the house, the real estate agent is asking for one and they are saying the complete trust doc would not suffice. Is that right?
- 4:35 Secure Act Flip Flops
- 9:57 What if the person who passed away is 87, less than 10 years, or the deceased RMDs next 3 or 4 years?
- 11:50 Tax Planning
- 21:28 Will taxes go up to the middle class 22% and 24%, expected whether democrats lose power?
- 22:36 Does it mean that with the new Secure Act, you still have to take rmd/s with the Roth?
- 22:53 Is there a formula that can be used to determine if there is a tax saving in converting an IRA or just leaving it the way it is?
- 26:03 How do we get money into Roth?
- 26:57 Can I convert 401k fund to Roth IRA while I’m still working?
- 29:03 What if you put yourself into the 33% or 35% bracket when you do a Roth? How does it make sense then?
- 31:34 Is it possible to avoid probate on bank brokerage accounts with POD and contingent beneficiaries?
- 32:47 Inherited assets after marriage are not commingled with a spouse, are they protected from the 50 division in case of beneficiary divorce?
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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.