You have a Big Decision when You leave the DROP – What to do with Your Lump Sum ?
Your Lump-Sum DROP money is paid in one of three ways :
- As a lump-sum payment, with mandatory 20% withheld for Federal Income Taxes. This entire check is 100% taxable as Ordinary Income. Ouch !
- As a direct 100% rollover to your own personal “ Self-Directed IRA Rollover “ investment account. There are no taxes due on this Rollover.
- Or as a combination: a partial lump-sum payment to you, with 20% withheld for Income Taxes, and the remainder rolled over non-taxable to your new IRA.
What is a “Self-Directed IRA”?
- Do you know how to complete all of your DROP Exit paperwork, the process, and the Deadlines?
- Fraser can help you complete your DROP Termination paperwork, the right way.
- Fraser can also help you establish your new Self-Directed IRA Rollover account, the right way.
Fraser Allport is a Fiduciary, an Investment Advisor,
and a Certified Estate Planner ™ with 37 years of experience.
Fraser is an Independent, and the Owner.
Call Fraser Allport, your Florida DROP Specialist, at 386.882.6256 for your
Complimentary Consultation about your DROP, Social Security, Medicare,
Income Tax, Retirement and Estate Planning questions.
Knowledgeable in every aspect of Financial Services, Fraser is The Total Advisor ™ –
An experienced and Independent Fiduciary for all your financial needs.
Call Fraser for answers.
It’s a Complimentary Consultation.
- Fraser can help you with the very first steps that you must take to exit your DROP.
- Fraser can help you meet the dates and deadlines for filing your DROP Exit forms.
- Fraser can help you determine what forms are needed, and help you complete them.
- Fraser can help you with independent choices for wisely investing your DROP Rollover money.
- Fraser can help you optimize your un-used Sick Days and Vacation Days in your DROP.
- Fraser can help you maximize your Social Security benefits for you and also for your Spouse. Note: Social Security decisions are irrevocable after 12 months.
- Fraser can help you with your Health Insurance, Medicare, Home and Long Term Care choices. Most Long-Term Care occurs in your Home.
- Fraser can help you coordinate your Retirement Plans with your Spouse’s Retirement Plans. You and your Spouse want to be in synch about Retirement.
- Fraser can help you legally reduce your Income Taxes in Retirement. This can save you mucho money over the rest of your Life. Don’t over-pay your Income Taxes.
- Fraser can help you with your Estate and Legacy Planning. Fraser is a Certified Estate Planner™. Leave A Legacy, not A Mess.
- Fraser can help you Get Your House In Order with Wills, Trusts, Powers of Attorney, A Living Will, Health Care Directives, Final Expenses, etc.
- Fraser can help you with a Home Health Care Plan, customized for you. Act now, while your health still qualifies. Home Health Care is the future of Long Term Care.