Retirement Analysis

You may have a retirement account such as a 401(k), 403(b), TSP, IRA or one of the other various types of retirement accounts. Each has its own rules which govern distribution and passing assets on to heirs.

Our CPA can work with you to determine the best strategies for your retirement vehicles. Any qualified retirement account can be transferred to an IRA or tax-free Roth IRA, regardless of your age. If you are still working, your qualified plan balance is most likely transferrable at age 59½ without upsetting future contributions or matching funds. Transferring to an IRA does not create a taxable event, and it can provide you with many more options — including greater protection of the assets and less fees. Many individuals are unaware that there are IRA accounts available that allow assets to pass to spouses and heirs without taxation at transfer, and can also guarantee* the spouse a lifetime income which they cannot outlive through annuities, while still maintaining control of the cash value. We specialize in these guaranteed* and insured products that are most suitable for your situation. Often withdrawal amounts will double the lifetime income for either spouse in the event of a qualified health care even occurs and long-term care becomes a necessity — yes, potentially even in your own home!**

We find many of our potential clients have not done adequate planning to ensure that their qualified assets pass downstream effectively to heirs (usually a spouse, children and grandchildren) and without taxation on the transfer. Many designated their retirement plan beneficiaries before the advent of the “stretch IRA” concept and have not updated them since. These easily overlooked opportunities can avoid needless tax liabilities for your heirs. Our CPA can help make sure that you are aware of how to properly structure your 401(k) or IRA-type accounts to pass directly to heirs without taxation on the funds at transfer.

We specialize in retirement analysis and planning working with Virginia residents in the Tidewater communities of Virginia Beach, Norfolk, Chesapeake, Portsmouth, and the general Hampton Roads and Tidewater area.

* Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer.  Income streams received from annuities will be based on the terms and conditions of the annuity contracts and any attached rider(s) purchased for additional premium.

** Increased income with qualifying health events will be determined by the specific terms of the contract and may include home care, as well as skilled nursing facility care.


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