Planning for Retirement Distributions: Tax, Financial, and Personal Aspects

Article excerpt

By: Eric Donner with Victor M. Finman and Terry White

ISBN #0-15-606969-5

Published by Harcourt Professional Publishing

This is a great reference book for anyone who gives financial planning advice to clients. It is especially appropriate for someone specializing in retirement distribution planning. The authors detail the best ways in which to set up and make changes to IRAs, in order to get the best result for the IRA owner and beneficiaries. This is particularly important now because retirement accounts have been compounding, tax-deferred, for a long time, and many baby boomers are at an age when they need to deal with their retirement planning.

A lot of real world experience is evident from the authors' explanations of the methods recommended to deal with individuals and families, and their retirement planning issues and emotions. There even is a chapter on preparing heirs for their, inheritance. Technical issues are dealt with comprehensively in addition to the human element, which is rarely addressed to this extent in technical books.

The best use of IRA money in estate planning is covered in detail. Required minimum distribution and beneficiary choices can have a huge affect on IRA growth and family wealth. All the possibilities are presented. The relationship of IRAs and trusts can, be critical, and the authors do a good job of explaining the ramifications; such as decreasing the total tax liability by not including IRAs in a Credit Shelter Trust. …