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    Kinghorn Heritage Law Group, PLC

    Tucson Estate Planning Attorneys

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    Home / Estate Planning Services / IRA & Retirement Planning

    IRA & Retirement Planning

    Retirement Plans and Estate Planning

    At first glance, the concept of Individual Retirement Accounts (IRA), 401(k)’s and other retirement plans seems simple enough: A structured way to save for your golden years while deferring taxes on your growing nest egg. Unfortunately, that simple idea becomes one of the most complex areas of estate planning once IRS rules are applied.

    Maximizing the Value of Your Retirement Assets

    To ensure you are protected, an estate planning attorney must consider tax reduction techniques as they apply to your individual situation, and interpret complicated income tax rules and IRS regulations. Fortunately, our estate planning attorneys immerse themselves daily in the questions and concerns that IRA investors face in planning their estates.

    6 Steps to Begin Planning

    As you take steps to organize your affairs, decisions must be made concerning which family members are intended to benefit from the estate plan, which include your IRA and other retirement assets. Each choice you make may have important tax consequences. Consider these steps as you start to plan:

    1. Survey your assets: Such as investments, savings, retirement plans, real estate, life insurance, annuities, businesses, other personal assets, etc.
    2. List key contacts/relationships: Such as estate planning attorney, financial advisor and CPA to use for yourself and your family
    3. Organize important papers: Will, Trust, deeds, beneficiary designations, life insurance policies and account statements
    4. Estimate what you’ll need: To ensure financial security during your lifetime
    5. Define your goals: Such as providing for your spouse, children, grandchildren, charitable donations, etc.
    6. Get professional guidance: From an estate planning attorney, financial advisor and CPA

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    In this day and age it is very rewarding and comforting to make a major decision for the long-term security of your family. Over 14 years ago we decided upon the Kinghorn Heritage Family to create our family trust. Through the years it became very evident that this decision was a major and necessary step for a secure future in an ever-changing legal climate. The Kinghorn Family has been a close friend that has always been there to serve our family.

    Gary and Velma T. Client Review September 8, 2020

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    We enjoyed meeting all the behind-the-scenes people on your team and want to thank you for the peace of mind you’ve given us and our children.

    M.D. Client Reveiw September 8, 2020

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    What an amazing law firm, where the people I refer to them are handled as good friends, family, and confidantes.

    Eileen E. Client Review September 8, 2020

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    Thank you Allison and Kinghorn Law family for everything you have done to make our end-of-life decisions a reality and stress free. When we think of Kinghorn: trust, peace of mind, professional. Outstanding Law Firm!

    Ken and Cheryl V. Client Review September 8, 2020

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    Very satisfied with your company and staff.

    Robert and Britt O. Client Review September 8, 2020

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    Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. Read on to learn more

    Chandler V. Client Review September 8, 2020

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    Estate Planning attorneys are sometimes criticized for offering needlessly complex, 'canned' solutions. This never has been the case with Kevin. The documents he created were comprehensive when appropriate and surprisingly simple when suitable. In every case, they were individually crafted to meet our unique needs.

    Rich D. Client Review September 8, 2020

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