For many people one of their largest single assets is their 401(k), IRA or other retirement account. Because the distribution of these accounts is not controlled by their will, people often fail to create a plan that coordinates the distribution of their retirement plan assets with the rest of their estate. This may cause unnecessary taxes, unintended distributions, premature distributions, and IRS penalties.

Cosho Humphrey, LLP understands the complex rules controlling retirement plan distributions and their impact on estate planning. We advise clients on coordination of beneficiary designation with their estates, including the decision to name a trust as beneficiary of such retirement plan.