|
FOR IMMEDIATE RELEASE
How the New Estate
Laws Could Limit a Surviving Spouse’s
Independent Access to the Family Money
Pittsburgh, PA, February 18, 2011 - In
December 2010, Congress approved and the
President signed a multi-billion dollar tax
cut package which will unknowingly result in
the partial disinheritance of the surviving
spouse.
We are now in a completely different estate
tax environment ripe for the cruelest trap
of all: where the standard language of
traditional wills and trusts forces too much
money (now up to $5,000,000) into a trust
limiting the surviving spouse to income and
the right to invade principal for health,
maintenance and support. If the trust is
overfunded, which is likely under the new
law, less discretionary income is available
for the surviving spouse. Furthermore, if
this common trust is the beneficiary of an
IRA or retirement plan, massive income taxes
are also triggered—all this can be avoided
with appropriate language in wills and
trusts and appropriate beneficiary
designations of IRAs, Roth IRAs and
retirement plans.
Under the new estate tax laws, older
traditional estate plans are not helpful,
but harmful, because of the severe
restrictions they place on the surviving
spouse, something most couples do not want.
Fortunately, there is an appropriate
response, but few estate attorneys or
advisors know it—Lange’s Cascading
Beneficiary Plan™. His book, Retire Secure!,
describes this plan in detail and is
endorsed by Charles Schwab, Jane Bryant
Quinn, Larry King and dozens of financial
professionals.
Learn more about the solution to the
problem; Lange’s Cascading Beneficiary
Plan™—it puts the surviving spouse back in
the driver’s seat instead of being held
hostage by an unnecessary trust.
James Lange, CPA/Attorney is a
nationally-known Roth IRA and retirement
plan distribution expert. He’s also the
best-selling author of the first and second
edition of Retire Secure! and The Roth
Revolution: Pay Taxes Once and Never Again.
With over 30 years of experience, Jim offers
unbeatable recommendations.
Jim’s recommendations have appeared 30 times
in The Wall Street Journal, 23 times in the
Pittsburgh Post Gazette, The New York Times,
Newsweek, Money Magazine, Smart Money and
Reader’s Digest. His articles have appeared
in The Journal of Retirement Planning,
Financial Planning, The Tax Adviser (AICPA),
and other top publications.
For more information or to contact Nicole
DeMartino call 412.521.2732 or nicole@rothira-advisor.com.
### |
