Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.

Estate Planning

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At a minimum, every adult should have a will, a durable power of attorney, and a health care proxy. A durable power of attorney designates an individual to control their financial affairs if they become incapacitated, while a health care proxy delegates health care decisions to a third person when they are unable to make those decisions.


We can refer you to professionals to help meet your individual needs.


Estate planning is simply determining (while you’re still alive) where your assets should go after you die. Without a properly structured estate plan, your wishes may not be fulfilled, and there may be unintended consequences for your loved ones.

While the concept is simple, the vehicles, planning and implementation process can be rather complex. Because of the estate tax laws and the emerging vehicles to help you protect and transfer your assets effectively, it’s important to work with experienced estate planning professionals who stay current in this field and advise clients on a day-to-day basis.


IRA Assets

While there are a variety of vehicles available to help you ensure your assets are distributed appropriately after your death, IRAs have become increasingly popular vehicles for providing for one’s beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a legacy planning strategy that potentially reduces taxes and potentially increases the payout your beneficiaries will receive upon your death. We can refer you to professionals to help you evaluate your financial situation to determine if IRA legacy planning could help you meet your goal of structuring a long-lasting inheritance for your beneficiaries.

Trusts

There are many different types of trusts, and they can be complex to set up and execute. However, a trust can be a very flexible and advantageous means to transfer your assets in the future. Most trusts can also provide current benefits, such as tax deferral and deductions. Unlike a will, a trust may help avoid probate upon your death. To learn more about trusts and how they may benefit you, we will be happy to help you consult a qualified estate planning attorney who can assist you with these issues.


To schedule a time to speak with one of our retirement income planners, contact us at info@eikenberryretirement.com or call us at 937.498.1128 today!