Retirement & Financial Planning Report

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Revocable living trusts are increasingly popular. In most revocable trusts, you (the trust creator) are also the trustee and the beneficiary. Therefore, you remain in control of the assets you place in the trust and you can receive any investment income from the trust assets.

Why would you go to the trouble of transferring assets from one pocket (existing accounts) to another pocket (a revocable trust)?


* Incapacity protection. You might reach the point where you are unable to manage your own affairs. The trust might say that your doctor must affirm your incompetency, in writing. Then a successor trustee whom you’ve named will take over. Your successor will have a legal responsibility to use the trust assets for your benefit.

* Probate avoidance. At your death, trust assets will be distributed by the successor trustee, as per your wishes. There may be outright bequests or trust assets might be kept in trust. Either way, the assets held in your trust will not be subject to the time and expense of probate proceedings.

Contesting the Denial of Claims in Federal Insurance Programs

In Federal Retirement, ‘Deferring’ and ‘Postponing’ Have Very Different Meanings

Taking FEHB into Retirement Without a Hitch

Take It or Leave It: The Choice before Retirement Eligibility

Rollovers: Moving Your Money Out of the TSP

A Special Retirement Supplement Misconception

Mistaken Beliefs: Terminal Leave for Civilian Feds

Mistaken Beliefs: Adding to Actual Age or Service Time

Mistaken Beliefs: Unused Sick Leave

FERS Retirement Guide 2022