IRA Legacy Planning & Trust in Florida

What Is IRA Legacy Planning?

You should consider IRA legacy planning if either of these applies to you. 

  1. You have a lot of funds in your IRA. 
  2. You don't expect to need your IRA money for retirement.

IRA legacy planning is a way for you to secure and extend the assets in your IRA accounts for your beneficiaries. There are many benefits to IRA legacy planning and setting up an IRA legacy trust. With IRAs becoming one of the most inherited types of assets, if you have an IRA, you should be aware of how you can protect that investment, not only for you but also for your heirs. 


Why You Should Have an IRA Legacy Plan

It may surprise you to learn about all the many reasons you should have an IRA legacy plan. A legacy planning strategy will reduce the taxes and increase the payout your beneficiaries will receive when you die. You should have an IRA legacy plan to protect your assets from any issues with creditors, lawsuits, bankruptcy, and divorce. An example of a clever legacy plan may be to have it laid out so that your beneficiaries get a minor flow of income from the IRA, preventing them from emptying it and being forced to pay more taxes. With a slower withdrawal, the money in the IRA account can continue to grow tax-deferred, yielding much more money in the end than just emptying the account would have. A legacy plan will ensure that what you have worked so hard to pass on gets handed down the way you, as the earner, see fit.  


IRA Legacy Trust

The best protection to prevent extensive percentages of your retirement savings from going to the IRS even after you have passed is an IRA legacy trust. Not only for protection from taxes, but when you have an IRA legacy trust, you can decide what happens with your assets and guarantee it. The funds can only get released in the way you determine, even if that means giving your beneficiaries complete control or limiting their withdrawal in various ways. The assets are secure from lawsuits, divorce settlements, bankruptcy, and creditors with an IRA legacy trust. Legacy planning and learning to get an IRA legacy trust to protect your assets can help leave your future family generations in a better place. Whether you don't plan to use your IRA retirement funds or have an immense stockpile of assets in your IRA account, stretch it out and shield it today!


Why Work With Oxford Advisory Group

Learn from Oxford Advisory Group how to protect your assets for your beneficiaries and reduce the total loss of your life savings. Most people have an IRA, but only a few have an IRA that's protected. At Oxford, our advisors are ready to help teach you and guide you through the process of IRA legacy planning to create an IRA legacy trust. Schedule a consultation with us now. 


Ready to Take The Next Step?

For more information about any of the products and services we offer, schedule a meeting today or register to attend a seminar.