"Put not your trust in money, but put your money in trust."
Oliver Wendell Holmes, Sr.

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Retirement Planning

New York City Attorneys Providing Prudent Counsel in Retirement Planning:

An essential element of retirement planning involves pensions, an area which many small business owners neglect.  The attorneys at Maurice Kassimir & Associates, P.C. work with pension actuaries to help you design and implement a pension plan that suits your needs.

For small businesses, pension plans can be devised with keeping employee goals in mind, while others are designed with a focus primarily on the personal interests of the business owner.  Maurice Kassimir & Associates, P.C. can analyze your plan and have it altered it based on your specific wishes.

Consider the following example:

A 47-year old physician, had a medical practice with a retirement plan being funded with $70,000 per year. $28,000 was allocated to the doctor and the rest allocated to his employees. The doctor wanted to modify the focus of the plan to fulfill his personal interests.   Maurice Kassimir & Associates, P.C. worked with actuaries to design a new defined benefit plan which increased annual contributions to $218,000.  $205,000 was allocated to the doctor (instead of $28,000), and $13,000 to the employees (instead of $42,000).  In addition, the doctor was able to purchase through the defined benefit plan using pre-tax dollars a $7.1 million permanent life insurance policy with an annual premium of $47,000.

Maurice Kassimir & Associates, P.C. attorneys are adept at using pre-tax qualified plan money and IRAs to purchase life insurance.

Grantor Retained Annuity Trusts and charitable remainder trusts are often excellent tools to provide income during retirement years. GRAT’s can build value which can inure to the benefit of a person’s descendents.   Charitable remainder trusts can also provide retirement income and fulfill charitable goals.

The attorneys at Maurice Kassimir & Associates, P.C. know how to find creative solutions to your retirement planning questions, and then provide the proper follow-through to implement the solutions.  Contact them now to see how they can meet your retirement and estate ate planning goals.

Plan Today, Save Tomorrow

If you are looking for the very best legal advice in estate and succession planning, or estate and trust administration, contact the law firm of Maurice Kassimir & Associates, P.C.

(212) 944-1377

Providing sophisticated estate planning to insure the accumulation, preservation and transfer of wealth for clients in the New York Metro area.

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