Retirement Planning Tools
By Pierre Mouchette | Real Property Experts LLC
Did you know that most people focus on having enough money to fund their ‘golden years’ but often overlook the importance of obtaining and organizing their documentation! Meet with your financial adviser and estate planning attorney to ensure that your designations pass to the correct people. This forethought can minimize expenses and taxes on your estate.
The following should be reviewed on a scheduled basis:
When you retire:
Note: Because of this, you should work closely with a tax adviser and then maintain your tax returns and supporting documents for seven years. The IRS could look back three years for basic errors and six if you underestimated income by more than 25- percent.
As indicated above ........ obtaining, understanding, and organizing your documents will not only help you to make informed decisions. Still, it will also facilitate a smooth transition into a rewarding and meaningful retirement.