Timothy Sumer

Should a trust be named as beneficiary of an IRA? In this episode, Chris Berry answers the question: Should a trust be named as beneficiary of an IRA? ___________________________________________________________________________ Attorney and Financial Advisor Chris Berry of Castle Wealth Group answer questions on retirement and estate planning every Wednesday at 1pm. Register here or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning , and tax planning from their Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi offices. Castle Wealth Group helps families with their legal, financial, and tax planning for their retirement and legacy. With the use of legal structures like revocable living trusts, Castle Trusts (asset protection trusts), Chris Berry and Castle Wealth Group can help your family plan, protect, and preserve what is important through their Retirement and Lega...

Who should you name as the beneficiaries of your pre-tax retirement accounts, and why? You are working on your estate plan, and trying to figure out who you should name as the beneficiary of your 401k account and IRAs. Simple – the kids, right? Not so fast. Who should be your 401k beneficiaries? Who should you name to inherit your IRAs? If you want to minimize taxes, who you name as your beneficiaries matters. Watch this video to understand non-spouse beneficiary distribution rules for inherited pre-tax IRAs and “regular” pre-tax 401ks. Understanding the rules from an income tax standpoint might help you decide who to name as your beneficiary. Who inherits the assets you hold in your various retirement accounts could have a big impact on the amount of money that is ultimately received by your heirs vs given to Uncle Sam. 0:00 Welcome 0:35 Why is it important for IRA beneficiaries to be tactical about taking distributions from an inherited pretax account? 0:55 Did the...

In this video we're answering the question "Can I use a revocable trust as the beneficiary of my IRA or 401(k)?" The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted. To get your questions answered by The White Coat Investor, visit and record your question. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Faceb...