The greatest danger is taxes – not creditors. Few people realize
that they can lose upwards of 80 percent of their retirement accounts
to a series of federal and state taxes that can be imposed on these accounts.
Whenever we have a client with a large retirement account, we refer them
to financial planners – particularly those knowledgeable about retirement
planning. There are a number of ways to lessen the tax bite. Our urging
our clients to get that advice is oftentimes our most important contribution
to preserving their retirement funds.