The Perfect Storm for Advanced Estate Planning (Part 2)

In Part 1 of this newsletter series on “The Perfect Storm for Advanced Estate Planning,” we discussed how right now may be the perfect time to undertake advanced estate planning transactions. Why? The reasons include historically low interest rates, relatively low and volatile asset valuations, and an expectation of higher taxation on the horizon. In [...]

2020-06-17T15:21:41-04:00June 17th, 2020|Articles, Blog, Estate Planning, News, Tax Planning|

The Perfect Storm for Advanced Estate Planning (Part 1)

Now is the time to undertake advanced estate planning! The last time we made a call-to-action with this level of conviction to undertake more advanced estate planning was in late 2011 when interest rates began hitting historical lows. Well, we are hitting historically low interest rates again, and the interest rates for June 2020 are [...]

2020-05-27T11:05:46-04:00May 19th, 2020|Articles, Blog, Estate Planning, News, Tax Planning|

SECURE Act Q&A: What You Need to Know
(Updated May 8, 2020)

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted on December 20, 2019 and is now the law. While its primary goal was to encourage people to save more for retirement, it also attempts to cover the tax shortfall that will be caused by the Act’s taxpayer-friendly provisions, and that is where the problems arise.

2020-05-21T07:09:37-04:00April 27th, 2020|Articles, Estate Planning, News, Retirement Planning, SECURE Act|

SECURE Act Quick Assessment Tool
(Updated May 8, 2020)

What is this? This Quick Assessment Tool can be used to get a generalized answer as to how to deal with the Setting Every Community Up for Retirement Enhancement (SECURE) Act effects on your IRA and Qualified Retirement Plan (“retirement plan”) accounts under your estate plan (“EP”). We still recommend that you review both the Secure Act Q&A and Secure Act Self-Assessment Tool / Full Discussion documents to better understand the issues and the most viable options in your situation.

2020-05-21T07:08:07-04:00April 27th, 2020|Articles, Estate Planning, News, Roth IRAs, SECURE Act, Trusts|

SECURE Act Self-Assessment Tool / Full Discussion Version
(Updated May 8, 2020)

As you are likely aware, Congress enacted legislation on December 20, 2019, commonly referred to as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, that significantly changed the income taxation of retirement plan accounts, including Individual Retirement Accounts (“IRAs”) and Qualified Retirement Plans (“QPs”), after the death of the account owner/participant (“participant”).

2020-05-21T07:18:53-04:00April 27th, 2020|Articles, Estate Planning, News, SECURE Act|

Listen Now: Planning Documents with Diane Weinberg

Diane Weinberg Talks Planning Documents on the Money Savage Podcast, In this episode with host George Grombacher, Attorney of Counsel Diane Weinberg discusses the legal documents needed to protect seniors and those who have special needs, the risks faced if they don't have them and how it all fits together.

2020-04-27T09:07:10-04:00April 21st, 2020|Articles, Elder Law|

UPDATED 3/30/20: Gift Tax Return Due Dates Extended to July 15, 2020

UPDATE 3/30/20: The IRS has extended the deadline for gift tax return filings, too - July 15, 2020. You may read Notice 2020-20 under "Guidance" on the IRS Coronavirus Tax Relief page. 3/26/20: It has been widely reported that the income tax return filing and payment dates for many taxpayers have been pushed back. What has been [...]

2020-04-01T12:48:06-04:00March 25th, 2020|Articles, Blog, Gift Tax Planning, News, News Alert|

It’s Business as Usual (Virtually)

Our firm's motto, "Life changes: Plan for it," holds as true in these uncertain times as any. We are here for you. And, just like you, we are keeping up with the latest developments regarding the coronavirus (COVID-19) and how it impacts every aspect of our lives. As such, we have made the decision to [...]

2020-03-19T09:46:27-04:00March 19th, 2020|Articles, News|

Updated SECURE Act Q&A: What You Need to Know

The SECURE Act was enacted on December 20, 2019 and is now the law. While its primary goal was to encourage people to save more for retirement, it also attempts to cover the tax shortfall that will be caused by the Act’s taxpayer-friendly provisions, and that is where the problems arise. In order to help make these rules and their impact on your estate plan easier to understand, we are providing the following Q&A.

2020-01-29T12:20:32-05:00January 29th, 2020|Articles, News|

NEWS ALERT: The 2019 Secure Act Becomes Law and Estate Plans Likely Need to be Modified! Yes, This is a Very Big Deal!

Effective as of January 1, 2020, our tax laws have changed in some very significant ways, especially as to the rules applying to the distribution of assets remaining in Individual Retirement Accounts (“IRAs”) and Qualified Retirement Plans (“QPs”) after the death of the owner/participant/employee (“participant”). The one significant change to the Secure Act made after our July 2019 Newsletter will be discussed in this News Alert, which provides more favorable rules to benefit disabled and chronically ill beneficiaries.

2020-01-29T12:39:31-05:00January 29th, 2020|Articles, News, News Alert|