You have received this email because you previously requested to receive communications from Purcell & Amen, L.L.C.. If you would like to be removed from our email list, click here to unsubscribe. Do not reply to this email. If you wish to send us an email please click here. Wow! What a year this has been… As I "head out" for the holidays with far flung family, I am all too easily focused on difficulties. But, along with the challenges have come a great many blessings and I plan to spend some time just savoring the many wonderful things that life has offered. I also will look forward to what are sure to be countless opportunities ahead. God Bless you all, Dave Purcell Merry Christmas and Happy Holidays to all! -The Purcell & Amen Staff
We all know the importance of saving for retirement. However, those earning above $100,000 have had one retirement saving opportunity denied to them: the Roth IRA. If you fall into this category, you are now in luck! Beginning in 2010, there is no income limitation for converting from a traditional IRA to a Roth IRA. There are two methods to get money into a Roth IRA: Contributing money to the Roth IRA or converting a regular IRA to a Roth IRA. The rules are different depending on which method is used. In this article, you will learn how a Roth IRA works and the advantages you may gain if you convert. A Roth IRA can be a great way to save for retirement. But remember, these and other valuable assets in your estate are governed by beneficiary designations. A qualified estate and retirement planning attorney, who focuses their practice in that area, can help tailor an estate plan that coordinates the beneficiary designations and can help you decide whether switching to a Roth IRA is right for you.
Maximizing the stretch of distributions from IRAs and qualified plans can provide significant income tax savings due to tax-deferral. This Alert examines a Private Letter Ruling in which the IRS allowed a surviving spouse to do an advantageous spousal rollover, even though the IRA was payable to an estate or trust. Ordinarily, if a trust or estate is the designated beneficiary of an IRA or qualified plan, no spousal rollover is allowed. Learn how they achieved a spousal rollover in this case.
The Economic Growth and Tax Relief Reconciliation Act of 2001 provides that in 2010 the estate tax is repealed and there is no estate tax. Therefore, from a tax perspective, 2010 may be a very good year to die. But, we don't know for sure, as many experts expect Congress to act to prevent the repeal of the estate tax. This article written by Steve Hartnett, Associate Director of the American Academy of Estate Planning Attorneys spells out the process for getting a new estate tax measure passed in Congress and the impact of the delays.
Our law firm regularly conducts free educational seminars on various estate planning subjects. This is a great opportunity for you to learn more about your estate planning options and the importance of planning. Click below for a list of upcoming seminars in your area.
Our law firm offers free estate planning consultations on various estate planning subjects, from Wills to Trusts to creating health care directives. This is a great opportunity for you to learn more about your estate planning options and the positive impact a proper estate plan can have on your family. Click below to request your free one-hour consultation.
Our client newsletter, Your Estate Matters, is published quarterly and provides a wealth of free, high quality information covering a variety of Estate Planning and related matters. Visit our website to view our online archive of this information newsletter.
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