How We Help — The Golden Years

• David and Lisa would benefit from a revocable trust to avoid the hefty cost and delay of going through probate and to have a person ready to take over the finances as they age.
• They also need to speak with a CPA and a financial advisor about possibly converting their IRAs to Roth IRAs to save taxes for themselves or their heirs.
• For the investment real estate and the stock market assets, if they live in Tennessee, they may be interested in a community property trust to pass a sizable tax savings to the surviving spouse. Otherwise, 1031 exchanges and tax-loss harvesting investment strategies may suit them.
• They probably are not worried about shielding their children’s inheritance but may be concerned about what would happen if a grandchild inherited assets before they were ready for it.