Many factors will impact how comfortable you are when you retire. While the amount of money you managed to save is certainly one of those factors, where you spend your retirement years is also a significant factor. Many retirees move outside of the United States to make their retirement savings worth more. If you are considering retiring abroad, the Los Angeles estate planning attorneys at Schomer Law Group, APC share the 2022 Global Retirement Index top five list. What Is the Global … [Read more...] about 2022 Global Retirement Index Top 5 List
When it comes to planning for retirement, deciding where to live can dramatically impact your financial resources which will also affect how comfortable you are during your Golden Year. Not surprisingly, many retirees decide to move outside of the United States when they retire because their money goes farther. If you are considering retiring abroad, the Los Angeles elder law attorneys at Schomer Law Group, APC discuss the best places to retire abroad. The Global Retirement Index Published … [Read more...] about Best Places to Retire Abroad
Where you decide to live when you retire is arguably more important than how much you manage to save for your retirement years. Not only will your retirement destination impact your financial security, but it will also directly affect your overall quality of life. Each year, WalletHub publishes the results of their state “retirement-friendliness” rankings to help you decide how your choice of retirement destination will impact your retirement years. The Los Angeles estate planning … [Read more...] about How Does California Rank for Retirees?
IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly by eliminating the stretch benefit for most designated beneficiaries and forcing all designated beneficiaries other than Eligible Designated Beneficiaries to use the 10-year rule for distributions. The 10-year rule was thought to operate much like the 5-year rule that existed before the passage of the SECURE Act. Recently issued proposed Treasury Regulations dispute that … [Read more...] about Just When You Thought You Understood the 10-Year Rule, Think Again
Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers. Read on to learn more. … [Read more...] about Application of the Updated Life Expectancy Tables