Tag: retirement
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The Hidden Tax Trap Lurking in Your Tax Deferred Retirement Accounts
By JASON GRAY Pinnacle Law PLLC Most people think of a 401k or IRA as the safest, simplest building block of retirement. You set money aside, it grows tax deferred, and one day you use it to support yourself. The problem is what happens after you are gone. A tax deferred retirement account can…
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What To Do With Bank Accounts, Final Expenses, and Real Estate When a Spouse Passes Away
By JASON GRAY Pinnacle Law PLLC Losing a spouse is one of the hardest experiences anyone will face. During the first days and weeks, even basic decisions can feel overwhelming. Yet there are certain practical steps that must be taken to ensure that finances and property are handled properly. Understanding what needs to be done…
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Hidden Tax Traps for Inherited Retirement Accounts and How Advanced Planning Can Help
By JASON GRAY Pinnacle Law PLLC Many families are surprised to learn that inheriting a retirement account such as an IRA or 401(k) is not always as simple as receiving money and continuing to invest it. Retirement accounts carry their own withdrawal rules after death, and those rules often require beneficiaries to take out…
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How to Protect Your Beneficiaries When They Receive Your Retirement Accounts
By JASON GRAY Pinnacle Law PLLC A retirement account is often one of the largest assets a person owns by the time they pass away. Whether it’s a 401(k), IRA, or other tax-deferred retirement plan, these accounts can represent a lifetime of disciplined saving and investment. But when it comes to estate planning, many…