Jensen Law Office, PLLC
1833 N 105th St., Suite 301
Seattle, WA 98133
Jensen Law Office
February Newsletter
Foundation Planning: Building the Cornerstone of Your Estate
Estate planning can cover a wide range of issues from outlining your wishes for asset distribution, healthcare decisions, and guardianship in the event of incapacity or death to addressing complex asset protection and tax planning. At our estate planning law firm, we offer a unique approach called Foundation Planning, which focuses on building a solid foundation for your estate plan. Today I will discuss what Foundation Planning is, why it’s important, and how it differs from other estate planning approaches.
Retirement Planning Update
Although we are still in the midst of winter, spring is on its way. It is important to remember upcoming April deadlines for retirement contributions and required minimum distributions (RMDs), but there have also been some recent developments that may impact your retirement planning. In 2020, the Setting Every Community Up for Retirement Enhancement (SECURE) Act created a ten-year payout rule for most inherited retirement assets, recently there have been some proposed regulations that could affect this.
What You Need to Know About Beneficiary-Controlled Trust
Would you like to provide your children or loved ones with an inheritance but protect them from the risks that may accompany a large windfall? If so, you can create a beneficiary-controlled trust in which the person you name as the trust’s primary beneficiary has rights, benefits, and control over the property held by the trust, but with important protections. In a beneficiary-controlled trust, you can name the primary beneficiary as the sole trustee.
