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Retirement and Tax Planning

Comprehensive Proper Planning Minimizes Tax Implications on Your Entire Estate

Estate planning is about more than deciding how you want your assets distributed if you become incapacitated or upon your death. Estate planning strategies can also help you minimize your tax liabilities and prepare for your retirement.

At Bratton Law Group, our lawyers in NJ and PA have the tax planning experience and knowledge to protect your retirement funds and plans. We are uniquely focused on helping to reduce tax liability. By doing this, it stands to reason that you will be paying less tax on your assets while also increasing your estate’s value.

Learn about the Variety of Tax Saving Options Available

We know that planning for retirement can sometimes feel overwhelming. For many, earning a living and making short-term plans are the main focus. However, planning for the future is paramount when it comes to making the most of your hard-earned savings, as well as protecting your high net assets. Speak to an experienced estate planning attorney with expertise when it comes to tax planning. Tax laws vary from state to state; Bratton Law Group lawyers know the ins and outs of tax law in New Jersey and Pennsylvania.

Talk to us about:

401(k) Rollovers: Many retirees roll over their 401(k) accounts into an Individual Retirement Account (IRA) when they retire. As a result, the IRA becomes a significant portion of the estate of many retirees. However, an IRA is a very tax-sensitive vehicle. We know the methods to maximize your investment.

Choosing an IRA Beneficiary: IRAs are not subject to probate. Instead, they are distributed directly to your beneficiary or a qualifying trust. There are many reasons to choose your spouse or children as your beneficiaries. Likewise, there are reasons to consider creating a trust as the beneficiary for your IRA(s).

Trusts: To get the maximum tax savings from a trust, these documents must be carefully drafted to ensure your assets are protected under regulations issued by the Internal Revenue Service.

Inheritance and Estate Tax Issues: New Jersey and Pennsylvania both have inheritance and/or estate tax requirements. These taxes can be quite steep, especially if the assets don’t go to a spouse or to children. Talk to us about creating a trust as well as other options to ease the tax burden.

Bratton Law Group Will Help Minimize Your Tax Implications

Minimizing tax implications during the estate planning process can be complex. Don’t go it alone. We invite you to learn more from the knowledgeable and experienced lawyers at Bratton Law Group. We will explain your options and expertly draft your estate documents to minimize tax implications. Our attorneys have significant experience in high-level tax planning for corporations and high-net asset individuals. We use our experience to skillfully advise families on retirement and tax-planning issues to maximize their estates for themselves and their beneficiaries.

Contact us for a consultation with an experienced lawyer at Bratton Law Group.  Call 856 770 2744 or fill out our convenient online form. We have New Jersey offices in Linwood, and Ewing, as well as one in Philadelphia, PA. We represent clients in all neighboring communities.  Some of the many places we help clients in include Cherry Hill, Princeton, Mount Laurel, Moorestown, Voorhees, and Medford.