Contribution limits based on AGI still apply. While I do know things are not the same for a company sponsored 401(k), I don't know the particulars. That's why you want to get with an expert face-to-face in your state. But do be careful doing that. So called "estate planners" are a dime a dozen, and most of them are like me in situations like yours, and have no clue what they're talking about. YOu want someone with the heart of a teacher, *not* the heart of a banker. 🙂
I myself have a family lawyer (doesn't everyone?) whose area of expertise is estates, wills and probate. I suggest you seek out legal counsel with similar expertise, and make sure they are a licensed CPA or tax attorney of some sort. There are state laws that can directly affect retirement plans, and those laws do differ state to state. So competent legal counsel now will be far cheaper than finding out 20 years down the road you screwed up and now have to pay 20 years worth of fines, penalties and back taxes. That could easily wipe out a retirement account without even trying.
Overall, while I have no problem getting advice, suggestions or ideas from a public user to user forum such as this one, I most certainly would not rely in the information provided when it comes to *my* money. I suggest the same for you.
