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In order to be successful as an estate planning lawyer, I must break down complex topics to manageable teaching points.  Here are a couple examples: There are 3 tools in the estate planning toolbox for transferring assets upon death: 1- Beneficiary designation2- Will3- Trust There are no more tools.  Every estate plan will use a combination of these tools and each has its advantages and disadvantages.  My job is to determine which tool is best…
The SECURE Act, signed into law on December 20, 2019, is the most impactful legislation to affect estate planning in decades.  Although the SECURE Act includes many positive changes in regard to tax-deferred retirement accounts, it no longer permits most non-spouse beneficiaries (e.g., children) to withdraw an inherited retirement account over the beneficiary’s life expectancy (aka “stretch IRA”).  Instead, the default law now requires the entire account to be withdrawn and liquidated by the end…
The SECURE Act, signed into law on December 20, 2019, is the most impactful legislation to affect estate planning in decades.  Although the SECURE Act includes many positive changes in regard to tax-deferred retirement accounts, it no longer permits most non-spouse beneficiaries (e.g., children) to withdraw an inherited retirement account over the beneficiary’s life expectancy (aka “stretch IRA”).  Instead, the default law now requires the entire account to be withdrawn and liquidated by the end…
While in-person office meetings are always preferable in the estate planning context, video conferencing is available through the Zoom app if you need to use this option.  Please let the receptionist know that you prefer video conferencing when you schedule the appointment.…
While in-person office meetings are always preferable in the estate planning context, video conferencing is available through the Zoom app if you need to use this option.  Please let the receptionist know that you prefer video conferencing when you schedule the appointment.…
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020, is the most impactful retirement legislation of the past decade. It increases the age for required minimum distributions from retirement accounts from 70 ½ to 72 years of age. However, among the many provisions in the new law involving retirement accounts, the most significant for clients with retirement…
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020, is the most impactful retirement legislation of the past decade. It increases the age for required minimum distributions from retirement accounts from 70 ½ to 72 years of age. However, among the many provisions in the new law involving retirement accounts, the most significant for clients with retirement…
Congress passed the SECURE Act this week and it goes into effect 1/1/2020.  The SECURE Act includes a major law change that affects anyone who chooses to name a trust as beneficiary of a retirement account.  Although I already have my own ideas, the financial and estate planning industries are already in teh process of interpreting and responding to the law change.  I will post updates on both this blog and the “recent development” page…