{"id":2249,"date":"2020-04-24T08:34:14","date_gmt":"2020-04-24T08:34:14","guid":{"rendered":"https:\/\/barthattorneys.com\/?page_id=2249"},"modified":"2022-05-05T06:49:49","modified_gmt":"2022-05-05T06:49:49","slug":"private-retirement-plan","status":"publish","type":"page","link":"https:\/\/barthattorneys.com\/private-retirement-plan\/","title":{"rendered":"Private Retirement Plan"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_section][vc_row][vc_column][vc_custom_heading text=&#8221;Private Retirement Plans&#8221; font_container=&#8221;tag:h2|text_align:center&#8221;][vc_column_text]<b>Private Retirement Plans have become one of the most powerful protection and wealth preservation strategies in California in the last decade, because it can be structured as one of the strongest, safest and most cost-effective planning tools for anyone in California who is building private equity, business interests, real estate, or any other investment for their future retirement.<\/b>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<b>What is it?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Private Retirement Plans or PRPs are programs that are held under California state creditor law in which all funds, distributions and death benefits are \u201cexempt\u201d from lien and seizure both in bankruptcy and non-bankruptcy (creditor lawsuit) situations. <\/span>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;2258&#8243; img_size=&#8221;full&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<b>Values &amp; Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Safer:\u00a0 funded with exemption rights, not transferring or gifting assets.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Stronger:\u00a0 all assets, earnings, gains and future values are protected during accumulation and even after disbursement for lifetime benefits or death benefits for heirs.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Little Cost, if any:\u00a0 if done correctly, PRPs can capitalize on a multitude of tax benefits and can become a profit-center instead of cost by harvesting savings throughout the life of the program:<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Tax Deductions\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Tax Deferrals<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Tax Credits<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<b>Management Requirements:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">There are key components that get tested under case law, and create planning success when present:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Must be established primarily for retirement, not for creditor evasion.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Must have a Plan.\u00a0 The Plan must have an actuarial basis for funding.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Must have a Trust for each Participant, which must specify its tax intent.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Must have an independent Trustee.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Must have an independent Plan Administrator.<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<b>How do you find out more?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">We have partnered with an industry leader in PRP administration <\/span><a href=\"http:\/\/www.trust-cfo.com\/\"><b>TRUST-CFO<\/b><span style=\"font-weight: 400;\">\u00ae<\/span><\/a><span style=\"font-weight: 400;\">, who has developed all the required analysis including upfront funding, annual benchmarking, and future plan distribution testing, to maximize the Plan strength when\/if tested.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Please use these key tools to help you evaluate your current circumstance and find out what \u201cCreditor &amp; Tax\u2019 exemption protection rights you have, which ones you may be forfeiting, and which ones you can claim to protect against asset seizure, erosion, and loss.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_btn title=&#8221;PRP Exemption Diagnostic Calculator&#8221; color=&#8221;success&#8221; size=&#8221;lg&#8221; align=&#8221;center&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.trust-cfo.com%2Fexemption-diagnostic-calculator%2F%3Freferrer%3Dbarthattorneys.com||target:%20_blank|&#8221;][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_btn title=&#8221;Brochure \u2013 Learn More About PRPs&#8221; color=&#8221;black&#8221; size=&#8221;lg&#8221; align=&#8221;center&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.trust-cfo.com%2Fwp-content%2Fuploads%2FBARTH-PRP-Brochure.pdf||target:%20_blank|&#8221;][\/vc_column][\/vc_row][\/vc_section]<\/p>\n<\/section><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>[vc_section][vc_row][vc_column][vc_custom_heading text=&#8221;Private [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":77,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/pages\/2249"}],"collection":[{"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/comments?post=2249"}],"version-history":[{"count":1,"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/pages\/2249\/revisions"}],"predecessor-version":[{"id":2700,"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/pages\/2249\/revisions\/2700"}],"wp:attachment":[{"href":"https:\/\/barthattorneys.com\/wp-json\/wp\/v2\/media?parent=2249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}