Books About Retirement Accounts and Estate Planning
Your retirement plan is closely connected to your estate plan for several reasons. How you complete retirement plan paperwork and the investments you make as part of your retirement plan can have a significant impact on your surviving spouse and other heirs.The key to any successful retirement plan is to be well informed so you can ask the right questions of financial advisers, bankers, 401k plan administrators, CPAs, and estate planning lawyers. Unfortunately, when it comes to retirement planning, many people are taken advantage of by financial advisers and brokers that are looking out for themselves instead of providing sound financial advice. To help avoid this, read as much information as you can about retirement plans, investment options, and how to develop an estate plan. If an adviser, broker or insurance agent suggests you buy an annuity, do your own research first and carefully consider the terms and conditions before you sign any paperwork. If you are concerned about what your survivors or heirs will receive if you purchase an annuity, read the contract thoroughly and consult an attorney. An excellent guide to understanding retirement plans and the ramifications for your estate is IRAs, 401(k)s & Other Retirement Plans: Strategies for Taking Your Money Out by Twila Slesnick, PhD, and attorney John C. Suttle. There are also many free articles on Pennyborn.com that answer some of the most frequently asked questions on this topic. See our pages on IRA’s and Your Estate Plan, 401k’s and Your Estate Plan, Annuities and Your Estate Plan, and Inherited IRA’s for more information.