Weekly Wednesday Wisdom Webinars April 14, 2021

Weekly Wednesday Wisdom Webinars April 14, 2021

Certified Elder Law Attorney and Financial Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm.

Want to join our live webinar? go to www.wisdomwebinar.com to register or give our office a call at 844-885-4200.

Want to book a 15-minute call with Chris Berry? Register at 15chris.com to book a schedule in his calendar.

Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning, and tax planning from their offices in Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi.

On this week’s webinar, attorney and advisor Chris Berry of www.castlewealthlegal.com answers the below questions.

0:00 Introduction / Positive Focus

05:19 Changes with regard to Secure Act

15:11 Implications of naming beneficiaries of grandkids versus skipping your kids.

17:31 Any change to the Roth 10-year distribution?

24:33 If you passed, does your spouse have to take out Roth in any specific time frame?

25:23 Roth 10-year distribution, it seems like the kids inherited the Roth, should take out all of the income in the first year, move it to regular investment so that there is no tax, and they don’t have an RMD, is that correct?

30:52 What is the pre-tax moving strategy? Max out annual Roth Conversions?

31:33 Where are taxes going in the future?

36:24 Should we consider giving our assets away to use up the current gift tax exclusion before it is reduced to a million dollars?

39:09 Are the $11 million, $5 million, and $3 and a half million dollars per spouse?

39:30 Are assets in a Family Inheritance Trust included in Medicaid look back?

39:49 Change from joint spousal trust to separate trust

41:33 Do we need to meet with you to discuss where to move pre-tax accounts? Do we need to bring our tax records?

42:34 Is there a way to locate a copy of a will, even though we don’t know which lawyer provided it?

44:49 How do we stay ahead of the retirement game IRA, 401k et cetera, when the government can change the rules whenever they like?

47:42 Does an adult child who’s excluded from a trust as a beneficiary, are they entitled to a copy of the trust from the trustee?

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