Strategic Financial & Estate CHOICES at Age 60, 70, or 80: Retirement

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Make savvy strategic choices for your CA Retirement Planning, finances, estate planning with expert advice 👉 Book a Call at cunninghamlega.... to learn how to prepare for retirement to reach your retirement goals.
Age 50 begins the long conversation about retirement. At age 60, some begin to retire when they’re still active-and during this crucial decade, you have a tremendous opportunity for tax planning to reduce what the government takes and thereby increase generational wealth. At age 70, one should begin thinking strategically about RMDs (think “tax arbitrage”) from a retirement account. And when approaching 80, decisions need to be made about who is the right person to assist with finances and personal care, along with the careful implementation of wealth transfer strategies for the next generation. At each stage, it’s far too easy to miss opportunities and make wrong choices. Don’t miss this vital webinar!
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Опубликовано:

1 окт 2024

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Комментарии : 6

@davidobrien8352 9 месяцев назад

Thankyou Jim lots of very useful info here. Question: about prop 19 -after a death,the child of deceased has 1 year to use the property has primary residence. Does that mean there is no reassessment for one year? Also in the case of a house left to two kids One uses the house as a primary residence reassessment when it happens, is it the same for two as it is for one. Many thx

@CunninghamLegal 9 месяцев назад

There are many rules to preserve all or part of Prop 13 taxes. Once obtained, property taxes increase at a maximum of 2% per year until a change in ownership occurs or the family home stops being used as a family home.

@michaeldbouck 7 месяцев назад

Agree - divorce is probably the #1 wealth-destroying move couples can make.

@jefferyk.spellerberg176 Год назад

At 13:04, Why do you say the 401K etc. is handled by your DPOA? DPOAs typically don’t apply unless signed over inter vivos to the agent or they spring up due to disability. Is it more correct to say that the 401(k), etc. are simply contracts between the owner and the insurance company and that contract controls who the beneficiaries will be? I just don’t see what a DPOA would have to do with that. Enlighten me, great wizard!

@CunninghamLegal Год назад

A Durable Power of Attorney can grant very broad “agency” authority or very narrow authority. It can be effective when signed or upon a later event, typically mental incapacity. Agency authority lets the “Agent” (the person acting on behalf of the “Principal” or the person who signs the POA) to “step into the shoes of the Principal and do all things enumerated under the POA that the Principal could do. This includes dealing with 401(k)s if the POA grants the Agent such authority. I hope this answers your question!