5 Reasons to Protect Your Retirement Accounts Now

While you are alive your retirement account has asset protection but not once it is passed to a loved one. The protection evaporates and can disappear after just one lawsuit eliminating that hard-earned savings. The answer to protecting that inheritance is by a trust called a “Standalone Retirement Trust,” or SRT. It protects the assets from your beneficiaries’ creditors.
Below are five reasons you should protect your retirement account today:
1. If you have substantial combined retirement plans – An SRT can shield the retirement plans from creditors of spouses.

2. If you think your beneficiary will not be wise with the funds – An SRT can be a help if you feel your beneficiary will spend the inheritance irresponsibly. You can set up when and how much the beneficiary receives the money.

3. If you feel lawsuits, divorce or some other legal action is possible – An SRT can protect the retirement funds from lawsuits, a divorce, bankruptcy or any other legal action. So, if your beneficiary is in a lawsuit or is about to divorce or file for bankruptcy, you will want to protect the assets from the creditors.

4. If you have a beneficiary that receives government assistance – Inheriting an IRA may cause a beneficiary to lose their benefits if they are receiving or applying for government help. An SRT can protect them from being disqualified from that assistance.

5. If you are remarried but have children from a previous marriage – Your spouse could intentionally or unintentionally disinherit your children. By naming your spouse as a lifetime beneficiary of the trust and then having it passed to your children once the spouse has passed, you can prevent this problem from happening.

You have worked so hard to protect and grow your wealth, so let us help you keep it that way. Call us today and allow us to help you set up an SRT to protect your assets and provide tax deferred growth. No one wants creditors to take their retirement money. Now is the best time to protect your beneficiary’s inheritance.


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