Create a California Estate Plan: Which Retirement Assets to Consider?

If you are like many people who planned and saved diligently over the years, your retirement savings or pension may be among your biggest assets. These types of assets should be carefully considered when creating your Orange County estate plan. Significant tax and non-tax consequences can result if these assets are not properly addressed. An experienced California estate planning lawyer can help you decide the best option for planning for your retirement assets as part of your overall estate.

Retirement assets fall under various income tax and ERISA rules that govern distributions and requirements for obtaining spousal consent. Also, unique operational rules govern the asset, depending on the type of retirement plan or IRA with which you are working. Estate tax considerations must also be incorporated if your estate is large enough to trigger a potential tax. For these reasons, the following are examples of the types of assets that should be carefully addressed during the creation of your estate plan:

  • Pension plans
  • 401(k) plans
  • 403(b) plans
  • Defined contribution pension plans
  • 457 plans
  • Regular or Roth IRA’s
  • Non-qualified retirement benefits

Each of the above assets may be handled differently, depending on the type of estate plan that you are creating, the unique needs of your estate, and your personal goals and wishes. The experienced and knowledgeable Orange County estate planning attorneys at the Law Office of James F. Roberts & Associates, APC can help ensure that your valued retirement assets are properly planned for. Call our office today at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm
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