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Most of us look forward to retiring. A properly planned retirement can afford individuals with the opportunity to spend time with family and friends, travel to desired destinations, and commit time to overlooked hobbies. However, retirement planning involves more than just mathematical calculations. Successful retirement planning undertakes a comprehensive evaluation of your retirement goals, available benefits, and existing estate plan.

The office of Steinbacher, Goodall & Yurchak can help both retirees and prospective retirees with their planning.

Why?

Our time in the workforce culminates in retirement. For those individuals approaching retirement, the transition from the active workforce to retirement may be overwhelming due to the many variables. For instance, since Social Security was introduced, the average life expectancy of a 65-year-old adult has increased by nearly 50%. Statistically, such individuals can expect to enjoy nearly one-third of their adult life in retirement. However, the issues affecting retirement can be complex, including determining the best time to retire, retiring in a tax-efficient manner, and preserving retirement savings for your life and posterity.

Retirement planning is not unique to individuals with a high net worth; rather, every individual can benefit from a comprehensive plan. Each individual’s retirement goals and options must be critically examined. The attorneys and planners at Steinbacher, Goodall & Yurchak have the experience and expertise in retirement planning to help you confront those challenges through the implementation of a customized plan.

What?

Our office provides guidance and formulates a plan designed to assist retirees and prospective retirees in assessing the options available from their retirement benefits, structuring their beneficiary designations, preserving benefits during their lifetime and for posterity, and identifying tax-savings for retirees and beneficiaries.

How?

From defined benefit plans to defined contribution plans, each retiree has a unique benefits package. At Steinbacher, Goodall & Yurchak, we have attorneys to explain your options, provide recommendations, and guide you through the planning process. Our recommendations will evaluate the benefit options available to each retiree, implications to the beneficiary or beneficiaries, and corresponding consideration of each option through a broad framework, including income tax, Pennsylvania inheritance tax, and federal estate tax. Steinbacher & Stahl utilizes a comprehensive approach to retirement planning, which incorporates the recommendations into each client’s overall wealth protection plan, long-term care plan, or business succession plan. In helping you attain your retirement goals, our firm will recommend a variety of planning strategies, including, but not limited to, the utilization of accumulation and conduit trusts, strategic beneficiary designations, and benefit plan elections.

*“In 1940, the life expectancy of a 65-year-old was almost 14 years; today it is more than 20 years.” See Social Security Basic Facts available at http://www.ssa.gov/pressoffice/basicfact.htm.