Articles
The Perfect Storm for Advanced Estate Planning (Part 1)
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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.
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.
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”).
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.
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 …
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 …
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.
