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IRA Distribution & Planning

IRA rules and regulations related to distributions from Individual Retirement Accounts can be complex and overwhelming for many consumers. Whether you are taking early withdrawals or attempting to take as little as possible from an IRA, simple mistakes may have drastic impacts on your financial plan. Edward Harris is a nationally recognized IRA distribution specialist. Mr. Harris regularly presents seminars on IRA distribution planning and estate planning.

  • 72(t) Early Distributions
  • Required Minimum Distributions
  • Inherited IRAs
  • IRA Beneficiary Elections

Retirement Income Planning

For retirees, the amount that is withdrawn from a portfolio each year during retirement is what may ultimately determine how long retirement assets will last. Retirement Income Planning is a process of evaluating and forecasting cash flow, healthcare costs, portfolio performance, inflation, and the impact of fluctuating returns on a portfolio’s longevity. Products evaluated for Retirement Income Planning may include:

  • Bonds
  • Dividend - paying stocks
  • Fixed Annuities
  • Variable Annuities
  • Municipal & Government Securities

Tax & Estate Planning

Tax and estate planning is an ongoing process and should be started as soon as one has any measurable asset base. As life progresses and goals shift, the estate plan should move to be in line with new goals. Lack of adequate estate planning can cause undue financial burdens to loved ones (estate taxes can run higher that 40%*), so at the very least a will should be set up even if the taxable estate is not large. Some of the major estate planning tasks includes:

  • Reviewing a will
  • Limiting estate taxes by setting up trust accounts in the name of beneficiaries
  • Establishing a guardian for living dependents
  • Naming an executor of the estate to oversee the terms of the will
  • Creating/updating beneficiaries on plans such as life insurance, IRAs and 401(k)s
  • Setting up funeral arrangements
  • Establishing annual gifting to reduce the taxable estate
  • Setting up durable power of attorney (POA) to direct other assets and investments

Life Insurance/Long Term Care Insurance

It is important to conduct a periodic checkup of your life insurance needs. You should review things like your objectives, risk tolerance and time horizon, as well as any costs that would be involved with the changes you make.

  • Permanent life insurance protection
  • Tax advantages you just can’t get from other products
  • A selection of riders that can help you customize the policy to meet your individual needs, including the possible need for long term care

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing. Guarantees are based on the claims paying ability of the issuing insurance company.


For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you.  |  (724) 942-3300