Truth 46 Steve’s rules, part 2

Rule 14: Make sure that your heirs are aware of their ability to use qualified disclaimers—A qualified disclaimer when coupled with a properly completed Beneficiary Designation opens the possibilities of many years of tax savings through the use of Stretch IRAs.

Rule 15: Have a Durable Power of Attorney—A Durable Power of Attorney is a document by which you appoint someone to act on your behalf in financial matters. It is particularly helpful if you are incapacitated and need to change your Beneficiary Designation or make a Disclaimer.

Rule 16: The investment choices that you make within your IRA and 401(k) should be part of an overall asset allocation strategy—A proper asset allocation strategy is ...

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