Are you hoping to create a secure future for yourself so you and your loved ones can enjoy your golden years? Do you want to take advantage of tax benefits that can come with the creation of retirement accounts and are you hoping to create retirement accounts that you can transfer to your heirs if you do not spend down your assets?

If your goal is to ensure you have a stable and secure retirement, you need to get legal help today. The Law Offices of Michael Robinson, P.C. provides comprehensive advice to people of all ages who need assistance with IRA & retirement planning. We serve clients in Rochester, NY and the surrounding areas, and we assist with establishing investment strategies to maximize tax advantages. We also help seniors to understand the rules for required withdrawals from IRAs as well as requirements for leaving IRAs to beneficiaries after death. If you are ready to take control over your retirement future, contact us now to get personalized one-on-one advice. We’ll answer questions including:

• What are some benefits of getting help with IRA & retirement planning?

• What is involved in creating a retirement plan or an IRA plan?

• How can a Rochester retirement planning lawyer help me?

What are Some Benefits of Getting Help With Your Retirement Plan?

Creating a plan for retirement can be very complicated. You will need to determine what your goals should be for saving enough money to provide you with a stable income in the future. You will also need to determine what types of accounts you should be investing your money in.

There are a variety of different kinds of Individual Retirement Accounts (IRAs) that provide different tax benefits to investors. For example, depending upon your circumstances, you may be able to invest in:

• A traditional IRA, which allows you to invest with tax-free dollars so you get a break up front and it is easier for you to put away money for your retirement.
• A Roth IRA, which you invest in with post-tax dollars and which allows your money to grow tax free.
• A SEP IRA, which is designed for the self-employed and which allows you to invest a larger amount of money each year than you can in either a traditional or a Roth IRA.  A SEP IRA also allows you to invest with pre-tax dollars.
• A Simple IRA, which can be created by company owners and which allows employees and employers to contribute to a traditional IRA that has been set up for workers.  A Simple IRA is an ideal choice for companies that want to make retirement savings possible without a 401(K) or other employer sponsored retirement plan. A Simple IRA can also be used by S-corp owners to reduce tax liability and save for their own retirements.

There are income limits and strict requirements for the amount of money that can be invested into an IRA each year. You should get help from an experienced retirement planning lawyer so you can select the right type of account and make informed choices about how much you can invest.  

Seniors can also get help understanding the rules for when withdrawals must begin from their IRAs and for the amounts of money that must be withdrawn.

What is Involved in Creating a Retirement Plan?

Your retirement plan should be a comprehensive roadmap for what you want to achieve in your golden years. Many people hope to have the financial security to travel the world and to live comfortably in their old age. As people are living longer, having a lot of money set aside for retirement has become even more important. With the help of retirement planning attorneys at The Law Offices of Michael Robinson, P.C., you can determine what you need to save so you will have no worries about your financial stability as a senior.

An experienced attorney can help you with all aspects of creating your retirement plan including:

• Setting goals for the amount of income you want your investments to produce during retirement
• Developing a strategy for setting aside funds so you can create a retirement nest egg that will allow you to achieve your income goals.
• Determining what types of tax-advantaged accounts are right for you.
• Understanding the rules for IRA investments, as well as for withdrawals from IRAs when you reach retirement age.
• Understanding requirements for transferring IRA balances upon death.

Do not try to handle planning for your retirement alone- your future is too important to make mistakes.

How Can a Rochester Retirement Planning Lawyer Help You?

The Law Offices of Michael Robinson, P.C. has extensive experience assisting clients with the creation of a comprehensive retirement plan. Whatever your age or your goals, we are here to help. Give us a call now to learn more.