Episode Synopsis "Episode K - Kids and Other Family Members"

In this episode, Episode K, we discuss kids and other family members in the business, and how they can impact your retirement plan designs. Do you have to cover your kids? What about your parents, your grandparents, aunts and uncles or any other family members? Is there a difference? What if the kids work there, but aren’t going to take over, does that matter? Does it matter if I don't own very much? We talk through which family members may be considered owners solely because they're related to you, how this would impact the design of the plan, and some special rules for spouses. Instead of fun facts, we've scattered some jokes throughout the podcast, because if you can't laugh at your family, who can you laugh at?Seriously though - knowing who's related to the owners, and adjusting / accounting for that, makes a huge difference in our plan designs, and can make a good plan into a great one. Listen here to find out how, and why.

Listen "Episode K - Kids and Other Family Members"

More episodes of the podcast Retirement A to Z

• Episode R: Retirement - what now?
• Episode V - Vesting and Eligibility
• Episode T - Types of Plans
• Episode S - The SECURE Act
• Episode Q - QLACs (Qualified Longevity Annuity Contracts)
• Episode P - Protection
• Episode O - Organizations that can sponsor a plan
• Episode L - Life Insurance in a Qualified Plan
• Episode K - Kids and Other Family Members
• Episode J - Just For You! (Dentist, two owners, 15 employees)
• Episode J - Just For You! (Realtor, one owner, no employees)
• Episode J - Just For You! (Hematologists, 2 owners, 150 employees)
• Episode H - Highly Compensated and Key Employees
• Episode G - Guarantees
• Episode F - Flexibility within a plan
• Episode E - Estate Planning
• Episode D - Distributions
• Episode C - Common Ownership
• Episode B - Business Planning
• Episode A - the ABCs of retirement plans