We understand the rules about how rollovers work and can help you develop a strategy to make the process as smooth as possible for your family and you. We are always keeping up to date on recent Annuities, IRA and Life Insurance licensing regulations by attending continuing education seminars, reading specialized news articles and professional publications to challenge us to be better educated on the topic.
We will explain the rollover process, point out potential pitfalls and tax complications, and as your Retirement Specialist, we will help you simplify the process of estate planning, IRS rollovers and Life Insurance. Avoid common estate gifts and IRA Rollover mistakes
- Same-Property - when a financial asset is withdrawn from a retirement account or IRA for the purpose of funding a new IRA, it must be rolled over into the same property (or format) of an IRA.
- The 1x-Per-Year - you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own.
- Sixty-Day Deadline - if a distribution from an IRA or a retirement plan is paid directly to you, you may deposit all or a portion of it in another IRA or a retirement plan within 60 days.
Whether you are beginning your journey or close to your estate or retirement planning, we can help you from start to finish! If you changed jobs recently, if you are within ten years from retirement, or if you just about retired, it is time to review your life insurance policies, current IRA, consolidate old IRA’s, 401K’s, annuities. Let’s focus on generating cash flow, managing the risks of retirement, including longevity, spending, inflation and market volatility. We will present you with a solid plan for retirement income and look for ways to reduce taxable income. Call me today at 773.663.2310 to schedule a private professional consultation or email me now!
Lorenzo Fiol, Your Amigo and Retirement Specialist
2911 N CICERO AVE, CHICAGO IL 60641