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Areas of Practice

Planning for Qualified Retirement Account Beneficiary Designations

The firm advises clients with respect to beneficiary designations for qualified retirement plans (IRAs, 401(k) plans, etc).

The rules governing distributions from retirement plans are complex. It is also important to remember that retirement plans vary. Some plans provide maximum flexibility in the naming of beneficiaries or the receiving of benefits, while other plans may restrict the options available to participants.

We provide guidance on different considerations for roll-over of accounts or inherited IRAs based on current legislation. We will also make recommendations to the client as to beneficiary designations, charitable giving, minimum required distributions, etc.

In addition, after an owner/participant dies, we will make recommendations regarding appropriate management of the retirement plans and post-mortem options with the family and trustee or personal representative.