The Connection Warren-Watchung Edition Apr/May 2019

APRIL/MAY 2019 THE WARREN-WATCHUNG CONNECTION PAGE 39 Sponsored by: GAIL L. ABRAMS, ATTORNEY AT LAW 908-753-4156 or register online at www.estateattorneynj.com 7 Johnston Drive • Watchung, NJ 07069 Limited Seating, Call to Reserve Seats As Soon As Possible CALL TODAY! ESTATE PLANNING WORKSHOPS Tuesday, March 26, 2019 Grillestone 2377 Route 22 West Scotch Plains, NJ 07076 Lunch:11:00am Prompt! Thursday, March 28, 2019 Maggiano’s 600 Commons Way Bridgewater, NJ 08807 Lunch:11:00am Prompt! Tuesday, April 23, 2019 Grillestone 2377 Route 22 West Scotch Plains, NJ 07076 Lunch:11:00am Prompt! Thursday, April 25, 2019 Chimney Rock 342 Valley Road Gillette, NJ 07933 Lunch:11:00am Prompt! TOPICS • Don’t leave your family Lost in the New Tax Laws! • The government has changed the Tax Code, your Estate Documents need to be reviewed! • Learn how Powers of Attorney and a Living Will can protect you if you become Incapacitated. • Learn about the consequences your heirs face if you do not have a Living Trust or a Last Will and Testament. • Learn How to avoid the Double Taxation of your IRA & Retirement Accounts and pass your assets to your Heirs. 2019 ESTATE PLANNING WORKSHOP ESTATE TAX LAWS HAVE CHANGED!!! LEARN ABOUT THE CRITICAL UPDATES AND HOW THEY AFFECT ALL TRUSTS, WILLS, POWERS OF ATTORNEY AND MORE!!! You are Cordially Invited to attend this Free Workshop Your Individual Retirement Account (IRA) may be one of your largest assets. Its pri- mary role is providing income for your retirement. However, a significant amount of seniors will pass away with their IRA still intact and their Retirement Plan/IRA will pass to their loved ones or the IRS if they don’t plan. What can you do to ensure your IRA assets pass to your loved ones? Consider using an IRA Trust. An IRA Trust is a special type of revocable living trust designed for the sole purpose of holding your IRA accounts for the benefit of your loved ones after your death. An IRA Trust is a Revocable Trust which allows you to maintain full control of your IRA while you are alive and then to control and protect the distribution of your IRA to your benefi- ciaries when you pass away. Naming an IRA trust as beneficiary will give you maximum control over your tax- deferred money after you die. That’s because the distributions will be paid not to an individual, but into a trust that con- tains your written instructions stating who will receive this money and when. An IRA Trust provides you with control of the dis- tribution of your IRA to your beneficiaries to preserve taxes and provide your heirs with a lifetime of income. Most benefici- aries of an IRA simply take a full distribu- tion and are thus subject to higher income tax for that year and hand over a signifi- cant portion of the IRA’s value to the IRS. An IRA Trust can stretch out distributions over the lifetime of the beneficiary. Stretching out the IRA in this way gives the funds extra years and potentially decades of income-tax-deferred growth in a tradi- tional IRA or tax-free growth in a Roth IRA. An IRA Trust also offers protection for your heirs. Through an IRA Trust you can address a host of beneficiary issues such as a minor children or grandchildren, special needs beneficiaries, spendthrift beneficiaries, pro- tection of assets from divorce or any other concerns you may have. IRA assets passing into an IRA Trust will be protected from creditors, predators, lawsuits and divorcing spouses as long as the funds remain inside of the trust and can only be distributed in the discretion of the Trustee. The IRA Trust allows you to “custom tailor” the inheri- tance of your IRA based upon the special circumstances of each beneficiary. An IRA Trust allows you to control your IRA while you are alive, as well as providing a degree of control after you pass for the benefit of those you love. To find out more about the advantages of an IRA Trust, reg- ister to attend one of our free Workshops. The Law Offices of Gail L. Abrams and Strategic Investment Advisors, LLC offers Free Seminars on Estate and Financial Plan- ning including Living Trusts, Wills, Powers of Attorney, IRA strategies, Retirement Planning and more. To learn more, call (908) 753-4156 or view website at www.estateattorneynj.com (Estate Planning Seminars) and www.siafinancial.com (Financial Planning Seminars) and make a reservation to attend one of these upcom- ing workshops: Estate Planning: Lunch Workshops RESERVATIONS REQUIRED! No Walk-Ins permitted! Tuesdays, March 26 or April 23, 2019 11:00am - 1:00pm at Grillestone, 2377 Rt. 22 West, Scotch Plains, NJ 07076 -OR- Thursday, March 28, 2019 11:00 am - 12:00pm at Maggiano’s, 600 Commons Way, Bridgewater, NJ 08807 -OR- Thursday, April 25, 2019 11:00am - 12:00pm at Chimney Rock, 342 Valley Road, Gillette, NJ 07933 See www.Estateattorneynj.com for more information! Financial Planning: Lunch Workshops RESERVATIONS REQUIRED! Thursdays, April 4 or May 2, 2019 11:00am - 1:00pm at Grillestone, 2377 Rt 22 West, Scotch Plains, NJ 07076 See www.siafinancial.com for more information! PROTECTING YOUR ASSETS FOR GENERATIONS… By: Gail L. Abrams, Attorney At Law www.theconnectionsnj.com