Trying to plan your North Carolina estate? Get the answers you need to protect your family.

Attorney Jackie Bedard has compiled a list of the most frequently asked questions in response those who need help protecting their families with North Carolina estate plans.
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  • How Much Will It Cost to Administer My Loved One’s North Carolina Estate?

    Man calculating the costs of administering an estateThis is a common and reasonable question, but it can also be a difficult one to answer without a more detailed look at the situation. A common rule of thumb is that total probate and estate administration costs tend to end up in the range of 2-8% of the estate. And while it might be tempting to think that a smaller estate will be on the lower end of that range, it often is an inverse relationship—for smaller estates, a large percentage may be spent on probate expenses because there are certain expenses and tasks that need to be handled even though it’s a smaller estate.

    Factors Involved in the Costs to Administer an Estate

    First, depending upon the nature of your loved one’s estate, there are likely to be several professionals involved, including attorneys, accountants, and financial advisors. It is also common to involve appraisers for real estate or other property. And in some more complicated estates, it may be necessary to hire auctioneers, surveyors, business appraisers, or other professionals.

    When hiring a professional, the Executor or Trustee should have a formal written engagement agreement with the professional that outlines the scope of services being provided by the professional.

    Understanding Attorney Fees To Handle Probate

    We understand people don’t like dealing with uncertainty and would prefer transparency. We try—when permitted— to quote such services on a flat fee basis, considering the nature of the Estate and what actions we expect will be needed to complete the Administration process.

    In other instances, we may be required to work on an hourly billing basis—either because the rules in the county where the Estate Administration is occurring do not allow for flat fee billing, or because there are too many “unknown” factors for the law firm to be able to properly establish an appropriate flat fee rate. Occasionally we may recommend a hybrid of the two with part of the work to be completed on a flat fee basis and part to be completed on an hourly billing basis.

    To learn more about attorney fees for administering an estate, read our article, How Much Are Attorney Fees To Handle A North Carolina Probate?

    Need Help Probating an Estate in North Carolina?

    Carolina Family Estate Planning is available to help you with the estate administration process. Our process begins with an initial consultation that we call the “Information Gathering Meeting.” It’s an opportunity for you to gather some information about the law firm and our Estate Administration process while we gather additional information from you about your loved one’s estate. During the Information Gathering Meeting, we’ll give you a broad overview of what to expect during the Estate Administration process. Generally, near the conclusion of the Information Gathering Meeting, or shortly after the Information Gathering Meeting, we will provide you with a flat fee quote for assisting you with the Estate Administration process or a recommendation that the Estate Administration be handled on an hourly billing basis.


    Losing a loved one is hard. The days and weeks after a loss are often fraught with grief, questions, and unfortunately, family complications. It’s a terrible time to try to think through a legal process clearly. It’s often a challenge just to know where to start. Maybe you’re not even sure what questions to ask and whom to ask. How do you know you’re getting good advice and doing it right? You could probably use some help. Our Understanding Estate Administration guide can help. This guide will give you an overview of the probate and estate administration process in plain English. Request your free copy here.


  • Why Should I Attend A Workshop Prior To Meeting With Jackie?

    Jackie speaking at an estate planning seminarWe find that when people attend a workshop before their initial meeting, it's a much less overwhelming process. Rather than Jackie trying to teach you a lot of information during the meeting, she can instead focus on helping you uncover your planning goals. We feel so strongly about workshop attendance that we waive the initial consultation fee if you attend a workshop first.

    Can I Bring A Friend And/Or Family Member With Me To A Workshop?

    Yes, of course! We encourage you to bring along anyone on your team. Due to limited seating, we just ask that you register each attendee so we can ensure enough seats for all attendees.

    Does My Spouse Have To Attend The Workshop With Me Or Can I Just Relay The Information That I Learn?

    There is a lot of information packed into the workshop! We find that it is difficult for clients to relay the stories and their importance once they leave our office. In the past, when we've worked with clients where only one spouse attended the workshop, we found that the non-attending spouse was at a disadvantage during the planning process and were more likely to feet a bit overwhelmed.

    How Much Does The Workshop Cost? How Long Does It Last? Do I Need To Bring Anything?

    It is free! We think it is very important to educate our community and this is one of the many ways that we do this. Feel free to browse our free materials and information on our website or at our Learning Center while you are in our office.

    The workshop last two hours. Don't worry, the time flies by! You do not need to bring anything with you. We provide everything you need, plus light refreshments.

    What Will I Learn At The Workshop?

    You will learn estate planning basics such as wills, trusts, health care directives, and powers of attorney. More importantly, you will learn the importance and the power of these documents and how they work upon disability or death. We also spend time teaching you how to plan for the future and possible long-term care costs. We use several stories during the workshp to help you uncover what planning goals are most important to you.

    What's Next After I Attend A Workshop?

    Once you have attended the workshop, our office will follow up with you to discuss your initial consultation with Jackie and see if it is appropriate to schedule an appointment to explore how we can assist you.

    Attendance to our seminars are free, but seating is limited. If you haven't already, sign up for an upcoming seminar!


  • How Do I Deal Effectively With Agitation For My Loved One With Alzheimer's Disease or Dementia?

    Agitation is defined as:

    • The act of agitating, or the state of being agitated; the state of being moved with violence, or with irregular action; commotion[1]
    • A stirring up or arousing; disturbance of tranquility; disturbance of mind that shows itself by physical excitement; perturbation.[2]

    Agitation is a common emotion that every human experiences. To the person who is living with Alzheimer’s, agitation is often the result of unmet needs or frustrations they are unable to express. This article deals with five areas that contribute to agitation and provides suggestions on how to best assess what is going on and how to cope with the agitation in a positive manner.

    The person

    Many professionals working with individuals with dementia believe that behind every behavior exhibited, there is a cause or reason. Malcolm Goldsmith of the UK Journal of Dementia Care said, “If we spent as much time trying to understand behavior as we spend trying to manage and control it, we might discover what lies behind it is a genuine attempt to communicate.”

    When agitation is displayed, stop and validate the person’s feelings:  “You seem upset, can you tell me what is wrong?”  This simple question could help de-escalate a difficult situation.

    The most common time when agitation is evident is during personal care. The person with dementia may feel as if he or she has lost his or her sense of dignity. When providing personal care, start by briefly explaining what will happen:  “I am going to help you wash your hair, doesn’t it feel good to have clean hair?”  Be sure to give explanation in a gentle tone each step and do not rush. Rushing will almost always lead to agitation and make the day more difficult for both of you.

    Be sure to offer affirmation throughout the day, such as:  “Thank you for helping me pick out those clothes. You look beautiful today.” “You did a great job at setting the table.”

    Often agitation is sparked by fear. Use a gentle touch and soft-spoken and positive words throughout all tasks, reminding the person with dementia that he or she is in a safe place. Remember to:

    • Validate the person’s feelings.
    • Offer care with dignity.
    • Do not rush.
    • Offer affirming statements.


    Good communication is an important part of any relationship. When caring for a person with dementia, the ability to communicate becomes more and more difficult. Both expressing and processing information becomes impaired. This inability to express and process can be frustrating and manifest itself as agitation. Agitation can include anything from pacing to lashing out. As caregivers, we want to prevent this reaction as much as possible by communicating effectively and allowing the person time to process and respond.

    The following tips will improve communication:

    • Approach from the front to prevent startling.
    • Maintain eye contact.
    • Lower the tone of your voice. A high pitch may indicate you are upset.
    • Smile and be pleasant.
    • Talk with a calm presence.
    • Speak slowly, clearly, and directly.
    • Identify yourself.
    • Use short, simple sentences.
    • Ask one question at a time.
    • Eliminate background noise.
    • Give plenty of time to respond.
    • If he or she cannot find words, gently finish the sentence.
    • Repeat information when needed – repetition is good.
    • Frequently affirm/praise him or her, even for the smallest things.
    • Allow choices when possible, for example, “Coffee or milk?” “Blue or yellow shirt?”
    • Validate feelings.
    • Use gentle touch.
    • Give hugs many times a day.
    • Don’t argue – you’ll never win.
    • Laugh together.
    • If your talk becomes “heated,” stop. Leave the room briefly and try again later.
    • Don’t talk down.
    • Don’t correct him or her.
    • Don’t demand. Ask nicely.
    • Don’t take adverse behavior personally.
    • Slow down! Hurrying increases frustration.

    Non-Verbal Communication

    Non-verbal communication is important to be aware of, both what we are communicating to our loved ones, and what they are communicating to us. Non-verbal communication can be processed and expressed by persons with dementia through body language, facial expressions, and tone of voice. They are sensitive to how you communicate with them and able to determine if you are being sincere or not.

    Interpreting non-verbal communication

    When your loved one gets up and goes to the bathroom several times per hour…

    He or she may be communicating pain, a possible urinary tract infection. Schedule an appointment with their physician.

    When your loved one takes off their shirt in public…

    He or she may be expressing that they are too warm. Try putting lighter clothing on and something difficult to take off independently.

    When your loved one has a grimaced look on their face…

    He or she may be experiencing pain somewhere. Look at their position and ask if they hurt anywhere.

    When your loved one firmly holds her mouth closed when you’re feeding them…

    He or she may not be hungry. Try feeding later.

    When your loved one cries when you walk out of the room…

    They may be expressing fear of being alone. Try giving them an object to hold, such as a stuffed animal when you leave the room and assure them you will be back.

    Pain Management

    Pain occurs in a cycle:

    Pain…Anxiety…Fatigue…Depression…Pain…Anxiety… Fatigue…Depression…and so on.

    If a person with dementia is in this cycle, and unable to communicate it, you may have to step in and figure out what the problem is. There are many causes to the pain, including infection, arthritis, joint and muscle problems, inflammation, headaches, etc. If your loved one has a history of any of these conditions, continue with treatment as ordered by a physician. Continue to have your loved one’s overall health assessed by routine exams to determine any condition that could cause pain or discomfort. Prior to the appointment, inform the physician about your observations. Dementia typically does not progress that rapidly. If your loved one takes medication, be aware of the possibility that some medications can cause agitation. Always consult your physician if you have questions or concerns. For the caregiver, the issue of overall care management is a constant guessing game of assessing and responding to needs of their loved one as well as possible.


    Environment includes the circumstances and conditions that surround us. It plays a large role in human behavior. It is important to create a safe and comfortable environment for the person with dementia. The following areas need to be assessed for optimal comfort:

    • Temperature: too hot or too cold.
    • Lighting: too bright or too dim.
    • Walkways/hallways: too cluttered.
    • Noise: too loud, too much.
    • People: comfort with those who are around.

    Look for patterns of agitation, such as whether it comes on with time of day, particular activities or events, children visiting, or bathing. When you notice the pattern, readjust your schedule to meet the dementia person’s needs.

    Agitation, Summary and Conclusion

    Use “Behavior Acceptance” when dealing with the dementia person. This term means looking beyond the behavior to the core of the problem causing the behavior. Look to correct the problem, which typically will adjust the behavior. Always remember that as individuals, we all need to be loved. The person with dementia needs to feel loved, safe, secure, needed, useful, and a part of the environment. We must provide this for them by showing them love, including them whenever possible, and allowing them to help in whatever way they can.

    The person with dementia is not able to change, so you as the caregiver must adapt. Constantly assess how you can better respond to a situation or behavior in a positive manner.

    Call us at 919-443-3035. One of our friendly Client Welcome Specialists will be happy to tell you more about The Alzheimer’s Planning Center and our unique Memory Safeguard Planning, to help you determine the best path forward, and to help you take the next steps toward a more secure future and a better life.

    The Alzheimer's Planning Center--We Help People Impacted By Cognitive Impairment Plan For The Best Life Possible

    [1] “Agitation.“ Wiktionary, the free dictionary, 2018. (May 7, 2018)

    [2] “Agitation.“ Wiktionary, the free dictionary, 2018. (May 7, 2018)

  • What Is Sundowning and How Do I Deal With It?

    “Sundowning” is a term that describes increased confusion as the day progresses. The cause of sundowning is unknown, but there are factors that may contribute to the symptoms, such as fatigue, low lighting, and increased shadows. As the day progresses, the person with Alzheimer’s disease becomes more confused. Sundowning is predictable, beginning at about the same time each day. Due to the predictability, there are ways to help combat this difficult behavior.

    • Keep a consistent routine.
    • Provide a scheduled quiet time. This should be no more than one hour. If the person is unable to rest, try soft music, low lighting, and hand/back massages.
    • After quiet time has ended, make sure there is adequate lighting throughout the house.
    • As sundowning begins, keep the individual busy to distract them from the setting sun.

    Remember that as the care provider, you are at risk of fatigue and burn out. Be sure to use whatever help is available to you so that you can continue to provide the level of care you desire to give your loved one.

    Call us at 919-443-3035. One of our friendly Client Welcome Specialists will be happy to tell you more about The Alzheimer’s Planning Center and our unique Memory Safeguard Planning, to help you determine the best path forward, and to help you take the next steps toward a more secure future and a better life.

    The Alzheimer's Planning Center--We Help People Impacted By Cognitive Impairment Plan For The Best Life Possible

  • How Do I Stop Mom or Dad From Writing Checks or Making Poor Financial Decisions?

    Hope for Caregivers guideA frequent question at our office, particularly when a parent has dementia or Alzheimer’s, is along the lines of: I have power of attorney for my mother, but she keeps writing checks and making poor financial decisions when I’m not around. What do I do?

    While Durable Powers of Attorney are an important part of a well-rounded estate planning, they do have one major shortcoming: A Durable Power of Attorney appoints an Agent to act on behalf of the Principal (e.g., mom or dad), but it does NOT stop the Principal from still conducting business on his or her own.

    Set Up a Trust

    If the Durable Power of Attorney authorizes you to do so, you may consider establishing a trust on your parents behalf and nominate yourself as trustee. As power of attorney you would transfer your parent’s assets into the trust and then manage the trust as trustee. Only a trustee can conduct business on behalf of a trust, therefore, your parent would not be able to write checks or conduct financial transactions for any assets that are in the trust.

    We strongly recommend that you consult with an attorney regarding this option and whether you’re legally authorized to establish a trust on your parent’s behalf.

    Adult Guardianship

    The next step may be to consider an adult guardianship proceeding. A guardianship proceeding will include an incompetency hearing. If the court finds your parent to be incompetent, the clerk of court will issue an order of such finding and will appoint a guardian to manage your parent’s affairs. You can then give copies of the court order to all banks and financial institutions where your parent holds accounts to notify the bank or financial institution that your parent has been declared incompetent by the court and no longer has legal authority to conduct transactions on his or her own behalf.

    Are You Caring for an Aging Parent or Family Member?

    As a caregiver, you know better than anyone that good help and clear guidance is hard to find.

    You may be struggling to find and pay for long-term care services, hitting roadblocks and waitlists in trying to get your loved one placed in an appropriate facility, or constantly fighting with doctors, hospitals (or even other family members) because you don’t have the necessary legal or financial authority to oversee your loved one’s affairs and/or care.

    Solid legal and financial planning is your answer and can help you put an end to all of the confusion and overwhelm that you currently face.

    Our free Caregiver’s Guide is here to help. Request your copy here or call us at 919-443-3035 to discuss how we can help.


  • When Does a Health Care Power of Attorney Take Effect? What Are My Responsibilites?

    A Health Care Power of Attorney does not take effect until the patient's attending physician determines that the patient is no longer able to make informed health care decisions and is no longer able to clearly communicate his or her wishes to health care providers. At that time, the physician will call upon the Health Care Agent nominated in the patient's Health Care Power of Attorney to make medical and health care decisions on the patient's behalf.

    Your Role and Responsibilities as Health Care Agent

    If you are called upon to serve as Health Care Agent, you will be responsible for all decisions relating to my health care, long-term care, end-of-life care, and general well-being.


    In some instances, a Health Care Power of Attorney may nominate multiple individuals to serve jointly as co-Health Care Agents. If you are serving with a Co-Agent, then the Health Care Power of Attorney should provide specific guidance regarding how to proceed in the event that you and the other Co-Agent(s) disagree on a matter.


    The full scope of your authority is set forth within the Health Care Power of Attorney document, but in general, authority includes:

    • Receiving medical information that I would have a right to receive;
    • Conferring with my physicians and all other health care providers;
    • Reviewing my medical charts;
    • Asking questions and receiving explanations from my health care providers;
    • Discussing treatment options with my physicians and other health care providers;
    • Consenting to medical treatments, tests, diagnostics, or similar;
    • Refusing medical treatments, including expressing my wishes regarding end-of-life care and life-sustaining treatments; and
    • Requesting consultations and second opinions.

    In some instances, you may need to consult with the patient's financial decision maker (Agent under the patient's Durable Power of Attorney and/or Trustee of my Living Trust) regarding financial feasibility of health care, long-term care, or end-of-life care.


    By serving as Health Care Agent, you have accepted a fiduciary duty to act in accordance with the patient's wishes and best interests to the best of your ability. At times, you may need to communicate and coordinate with the patient's Agent under a Durable Power of Attorney or if the patient has a Trust, the patient's Trustee.  To reduce the risk of likelihood of family discord with family members that may not agree with your decisions you should:

    • Carefully read the Health Care Power of Attorney and all supporting guidance that the patient has provided;
    • When making decisions on the patient's behalf, regularly review the patient's Health Care Power of Attorney and all supporting guidance provided;
    • Consult with the patient's attorney as needed to understand your role and seek advice regarding carrying out the patient's wishes;
    • Keep a notebook or record of all decisions made on the patient's behalf regarding the patient's health care and living arrangements;
    • Keep copies of all medical reports or similar documents;
    • Write down the names of all persons consulted with in making a decision such as health care providers, attorney, or similar.

    Potential Questions for Health Care Providers

    Every health care scenario is different. The following list is by no means exhaustive, but hopefully, it provides you with a helpful starting point:

    • How will this care option help the patient improve or feel better?
    • What do you define as a successful outcome for this care option? What is the likely success rate?
    • Can this care option be done on a trial basis and then be re-evaluated? If so, what is the appropriate amount of time for the trial? If the trial does not appear to be successful, are you willing to stop the care at that time?
    • What will this care option mean for the patient's quality of life?
    • If I were to die, how might this affect the patient's death? (e.g., would it potentially require hospitalization instead of home care?)
    • What are the potential side effects of this care option?
    • What care option do you recommend and why?

    Get Started on Your Planning & Peace of Mind

    We can guide you through the steps of creating a comprehensive health care plan and make the process as easy as possible for you and your family. A great place to start if you're looking to learn more is to attend one of our free public seminars or request our report, Estate Planning Pitfalls: The Twelve Most Common Threats To Your Estate & Your Family’s Future. If you'd like to discuss other ways to get started, call us at (919) 443-3035 or complete our online contact form.


  • What Is a DNR? What is a MOST?

    Do Not Resuscitate (DNR) Order

    A Do Not Resuscitate (DNR) Order allows a patient  (or their Health Care Agent on their behalf) to refuse cardiopulmonary resuscitation (CPR) attempts if the patient stops breathing or the patient’s heart stops. A DNR must be obtained from a physician and is written on a special form. It is important to understand that a DNR only applies to the decision to withhold CPR and does not apply to other life-sustaining treatments. In North Carolina, this form is color-coded (large red text on bright yellow-orange paper) and should be shared with all of the patient’s health care providers and posted prominently in the patient’s place of residence, such as on the refrigerator, for Emergency Medical Services (EMS). In the absence of a DNR signed by a physician, if EMS is called, they will be legally obligated to perform CPR if the patient has stopped breathing or if the patient's heart has stopped.

    Medical Order for Scope of Treatment (MOST)

    A Medical Order for Scope of Treatment (MOST) allows a patient (or their Health Care Agent on their behalf) to set forth his or her health care and end-of-life care instructions when faced with a life-threatening medical condition. A MOST must be obtained from a physician and is written on a special form. In North Carolina, the MOST form is color-coded (bright pink paper) and should be shared with all of the patient’s health care providers and posted prominently in the patient’s place of residence. A MOST form generally provides guidance regarding whether the following treatments should or should not be administered:

    • Cardiopulmonary Resuscitation (CPR);
    • General instructions regarding scope of medical treatment and whether it should include use of mechanical breathing, intubation, and similar;
    • Antibiotics;
    • Artificial Nutrition; and
    • Artificial Hydration.

    Get Started on Your Planning & Peace of Mind

    We can guide you through the steps of creating a comprehensive health care plan and make the process as easy as possible for you and your family. A great place to start if you're looking to learn more is to attend one of our free public seminars or request our report, Estate Planning Pitfalls: The Twelve Most Common Threats To Your Estate & Your Family’s Future. If you'd like to discuss other ways to get started, call us at (919) 443-3035 or complete our online contact form.


  • What Is a HIPAA Authorization? Why Is It Important?

    HIPAA Confidential Patient Health RecordsThe HIPAA Privacy Rule under the Health Insurance Portability & Accountability Act went into effect in 2003 and includes strict rules prohibiting health care providers, health insurance providers and similar from sharing your health information—including prohibiting them from sharing it with your spouse or family in an emergency.

    While the law is well intended to protect our privacy, it has come with the tradeoff of creating cumbersome burdens for family members who may receive the ‘silent treatment’ from hospitals and doctors that will not speak to them.

    When you visit your doctor, you may be asked to sign a HIPAA form including naming an emergency contact. Many think that this is all that is required, but unfortunately, those forms give you a false sense of security. Those forms only apply to that specific hospital or doctor and some may expire after a certain period of time.

    For example, a while back we had a couple visit our office to update their planning. The wife had recently undergone surgery at Rex Hospital. When she had entered the hospital for her treatment, she signed the appropriate forms, including a HIPAA Authorization that Rex was authorized to communicate with her husband. Due to some complications that arose, the woman ended up being transferred from Rex Hospital to Wake Med. When her husband attempted to talk to the doctors and hospital staff at Wake Med they refused to speak with him. The forms that the woman had signed before the surgery were specifically for Rex Hospital and did not apply to Wake Med.

    In addition to issues with hospitals and doctors, HIPAA also can rear its ugly head when dealing with insurance and billing matters. If your Durable Power of Attorney or Trustee needs to contact the hospital with a question about a medical bill or if they need to change your health insurance plan, they also can get stone-walled by the HIPAA privacy rule.

    In addition to a thorough Health Care Power of Attorney and Living Will, we recommend that all adults have a standalone HIPAA Authorization that clearly authorizes your health care providers to communicate with your Health Care Agent, your Durable Power of Attorney, your Trustee, and any other family members or close friends you wish to name.

    Get Started on Your Planning & Peace of Mind

    We can guide you through the steps of creating a comprehensive health care plan and make the process as easy as possible for you and your family. A great place to start if you're looking to learn more is to attend one of our free public seminars or request our report, Estate Planning Pitfalls: The Twelve Most Common Threats To Your Estate & Your Family’s Future. If you'd like to discuss other ways to get started, call us at (919) 443-3035 or complete our online contact form.


  • What is a Stretchout Protection Trust (a.k.a., IRA Trust or Retirement Plan Trust)?

    Supercharge Your IRAImportant Update Effective January 1, 2020:

    On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) as part of the 2019 omnibus spending bill. The SECURE Act, which is effective January 1, 2020, makes the most dramatic changes to retirement account laws seen in the past decade. While most popular media have focused on the impact of the SECURE Act during the original retirement plan owner’s lifetime, you should be aware the Act also makes potentially catastrophic changes to the tax treatment of retirement plans for beneficiaries upon the account owner’s death.

    For those planning to pass down retirement plans as an inheritance, these SECURE Act rules come as a devastating blow and new tax planning strategies may need to be explored. To learn more about the SECURE Act and planning options, you can download our free memo, SECURE Act: Major Tax & Estate Planning Implications​.

    Strechout Protection Trusts (also known as IRA Trusts, Retirement Plan Trusts) are still a great tool for maximizing the stretchout options available, protecting your child's inheritance from future lawsuits, bankruptcy, and ensuring your retirement accounts stay in your bloodline. To learn more about Stretchout Protection Trusts, continue reading below:


    A Stretchout Protection Trust that is specifically designed to receive your retirement accounts for tax efficiency and asset protection. A Stretchout Protection Trust is separate from your Will or Living Trust. During your lifetime, you remain the owner of your retirement plan, but you name the Stretchout Protection Trust as the beneficiary of the account upon your death.

    Frequently, the Stretchout Protection Trust will be designed to match the distribution pattern of your Will or Living Trust, but the Stretchout Protection Trust is designed precisely to comply with the IRS rules. This will ensure that your beneficiaries remain eligible for the Inherited IRA “stretchout” option.

    In addition to ensuring your beneficiaries get the most out of their “stretchout” option, a properly structured Stretchout Protection Trust can provide several powerful protections. If someday your child goes through a divorce, the retirement accounts are completely protected. If your child is sued or files for bankruptcy, the retirement accounts are protected. If your child dies, the Trust ensures that the funds remain in your bloodline and continue on to your grandchildren.

    If your child or beneficiary is a minor, you can specify who should serve as Trustee while they are young. Plus, rather than your child gaining full control of the account at age 18, you can choose the age your child gains access to the account.

    If your beneficiary is disabled or has special needs (or becomes disabled in the future), the Stretchout Protection Trust can qualify as a “Special Needs Trust” so that the assets don’t count against your beneficiary when he or she is qualifying for Medicaid, SSI, or similar government benefits. This built-in protection allows the inherited money to be spent on allowable expenses, typically things not covered by Medicaid or SSI, so that your beneficiary has a better quality of life while still receiving their important medical benefits.

    Discover How to SUPERCHARGE Your IRA and Maximize Your Family’s Future


  • Should I Name My Estate or Living Trust as the Beneficiary of My IRA or Retirement Plan?

    Supercharge Your IRAIf you read our previous articles on the power of IRA and retirement plan "stretchout" planning and what happens to your IRAs and retirement plans upon death, you might think that a positive solution would be to name your estate as your beneficiary so that the executor you’ve chosen can manage your retirement plans for you.  You chose them because they're responsible and you trust them, so what’s the harm, right?

    Unfortunately, the IRS rules require that if you designate your “estate” as the beneficiary of your retirement account, then the retirement account MUST be distributed according to the 5-year distribution rule. There is no Inherited IRA “stretchout” option.

    Likewise, if you think that you'll be able to name your Living Trust as the beneficiary of your retirement plan, you’ll also run into similar problems. The IRS rules for qualifying for the Inherited IRA “stretchout” option are extremely specific, and a Living Trust typically will not qualify. Thus, if you name your Living Trust as the beneficiary of your retirement plan, your family will again be stuck with the mandatory 5-year distribution option upon your death, causing the account to be prematurely taxed thereby losing the benefit of tax-deferred growth.

    Discover How to SUPERCHARGE Your IRA and Maximize Your Family’s Future