Casey Wealth takes an active role in helping our clients grow their financial skills and understanding. We offer a variety of events for both new and current customers. Make sure to check back regularly for new events!
Space is limited. Please call to RSVP 708.633.8200
The Important of Educating Your Beneficiaries
September 7th, 2016
6:00pm - 6:45om
Located at: Casey Wealth Management Offices 15614 S. Harlem Ave, Unit E, Orland Park IL 708.633.8200
TODAY’S TRENDS: Minimal to no estate planning in place. Minimal to no understanding of the lasting, costly and damaging effects of poor planning (namely unnecessary and avoidable taxation). Not completely understanding the flow of monies (i.e., who is getting what?). Simply put, the younger generation (as a whole) have no clue about how to handle inherited money (especially tax deferred money)
TOPICS THAT WILL BE COVERED: What we are seeing today…. A lot of ineptitude • Why one should not name a Trust as beneficiary of an IRA? • Avoiding the “Tax Bomb” that is associated with lump sum distributions • Utilizing the Multigenerational IRA Allowances (for good tax planning) • Employment “Tax Free Day” – What this means? & Why it is of significance? • Avoiding unintended consequences….namely the “Outlaw In-law” • Importance of Updating Beneficiary Forms (Avoiding the “Pension Pickle”)
• Why having too many IRA Accounts can be a bad thing? • Why you should make sure that your beneficiaries know your wishes and are aware of the delicate nature of being a beneficiary?
• Avoiding what we call the “Ultimate Financial Sin” • Finally, the Story About Stanley & Stella….and how their assets were handled!
HOW WE CAN HELP:
• Review your IRA Accounts (for proper beneficiary set up and potential inconsistencies)
• Establish a Plan for You and Your Beneficiaries
• If Necessary, we would offer to speak with your beneficiaries about the How’s & Why’s