Grandson Ben

Join us in the discovery of new ideas for retirement.


Tax and Legacy Planning

The SECURE Act of 2020 INSERTED A TAX TIME BOMB INTO RETIREMENT PLANS. The federal government, seeking accelerated tax revenues from qualified accounts with the SECURE Act, severely increased the tax burden on beneficiaries. Under the SECURE Act, your beneficiaries could lose 40-50% of the value of your retirement legacy to TAXES!

If you are a high net worth individual and are interested in reducing your taxes from your qualified retirement accounts and increasing your legacy to your children and grandchildren, we highly recommend that you make contact with Estate Planning Attorney James Singler. If you already have a Tax or Estate Planning Attorney, have him or her, contact us for further information.

Attorney Singler is a highly-experienced Estate Planning Attorney who has been advising individuals and couples in Ohio and Kentucky for well over a decade. He founded Singler Law LLC after serving as Partner at two large Cincinnati-based law firms, where he also focused his practice in the areas of estate planning and estate administration.

We can give you a free consultation and arrange for a webinar with Mary Read CPC, QPA, CPFA, a national recognized lecturer and author regarding qualified retirement plans and distribution strategies, which mitigate taxes while substantially increasing legacy distributions. She has more than 30 years’ experience as a leading authority in qualified plans.

Retirement Income Preservation

Whether or not you are a High Net Worth individual: protecting your retirement income from market risks should be your major focus. You do not want to outlive your income sources that may be subject to stock market volatility. You need to consider financial vehicles that increase in value when the market is up, but do not go down when the market is down. These financial vehicles can also provide lifetime income that neither you, nor your spouse, can outlive when properly implemented.

The following analysis sums up the best strategy for those most interested in retirement self-preservation:

“In the game of retirement the first half is dedicated to accumulating wealth and the second half is dedicated to protecting what you have. In the first half traditional investors accept the risk of stock market volatility with an understanding that market corrections can be overcome with time on their side.

In the second half, or the distribution phase of retirement, there is the need to reduce risk because market corrections may severely alter the amount of income that can safely be withdrawn.”

For example, two investors starting with the same amount invested have entirely different outcomes based on the sequence of returns being favorable to one and unfavorable to the other. Click Here to view. You do not want to be in a position where you rely solely on market timing for income in retirement.

The answer to the removal of this exposure to market volatility lies in financial vehicles such as Indexed Universal Life (IUL) insurance policies and Fixed Indexed Annuities (FIA). Both provide opportunity to grow money without risk of loss and with tax deferral benefits. They do not lose money when the market is down and you receive a portion of the gain when the market is up.

In addition to the IUL providing cash accumulation without taxation allowing for retirement income planning, it also will pass wealth to your beneficiaries without taxation in the form of a death benefit. There are additional IUL riders available to access cash for the insured in the case of chronic or critical illness, and riders are available for lifetime income planning.

The FIA will also accumulate tax deferred account value while allowing for predictable lifetime income that neither spouse can outlive. In the case of the FIA, any remaining value left in the contract and left to beneficiaries will be subject to taxation.

In summary, as you enter your retirement years which may last 20 or 30 years, or more, plans should be entertained to protect and preserve income streams that are not subject to severe market drawdowns. If you are near or in retirement, locking in gains and allowing those gains to accumulate with either tax deferral or no taxation, while providing lifetime income, will allow you to finish and win the game of retirement.

Click Here for an Index Universal Life (IUL) Buyers Guide.

Click Here for 7 reasons to consider FIA’s in 2023.

Click Here for educational videos.