There are two other important wealth management vehicles: IRAs and MUTMAs (custodial accounts for minor children established under legislation at the state level).

A large part of your net worth may have accumulated in your retirement plan. When you retire, you can roll your plan assets out to an IRA, to be held at Acadia. As with all accounts, we will work with your attorney and accountant to assure that the IRA is set up and administered according to your needs and to be in conformity with IRS regulations and requirements.

MUTMA accounts provide a useful method for transferring funds to an account for the benefit of a child or grandchild. The income is taxed at the parent's marginal income tax rate until the child becomes 14 years of age, at which time the income is taxed at the child's, usually much lower, rate. The account terminates and the assets are distributed to the child when he or she turns 18 or 21. To provide a longer term for control of the assets, it might be desirable to consider establishing a trust for the benefit of the child.