Listener Q&A: Navigating Taxes, Trusts, and More

Big Picture Retirement

In this episode of Big Picture Retirement, we’re back answering more of our listener-submitted questions. Join us as we cover:

• Anna's Query: When will NESARA begin?

• Ron's Question: Clarification on calculating taxes on Social Security benefits using our Cheat Sheet, specifically addressing whether AGI already includes SS benefits or if an additional 50% is added.

• Anne's Concerns: Discussing the threshold for needing trusts for individuals with borderline amounts ($750,000 - $1.5 million) and insurance options for travelers, including auto insurance for rentals in the USA, abroad, and RVs vs. asset protection.

• Lamont's Inquiry: Confirming the standard deduction amount for a couple both over 65.

• Don's Situation: Understanding how income received from work as a Trustee or Executor for an estate affects Social Security earnings limits and the implications based on trust wording.

• Danny's Topic: Evaluating company private E.S.O.P. plans and their benefits.

• Lori's Request: Exploring the tradeoffs of naming children as beneficiaries versus creating a trust and naming the trust as beneficiary, especially in light of recent changes to inherited retirement accounts and the 10-year distribution window. Additionally, discussing how a trust can offer protection from changes in law.

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Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517

Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and click on the “Ask A Question” menu selection.

Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.

Contact Devin’s team at https://www.carrolladvisory.com/

Contact John’s team at https://www.rossandshoalmire.com/