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Free Educational WEBINAR to learn how the SECURE Act impacts Retirement & Estate Planning
February 26 @ 11:00 am - 12:00 pm
The SECURE Act, effective January 1, 2020, is one of the most impactful law changes to retirement accounts in a generation.
There is a lot to unpack here, but we want to assure you that while the SECURE Act changes retirement planning, specifically with how retirement accounts are taxed and affects required minimum distributions, it is not all bad. And there are still ways to protect everything you own and love.
The biggest talking point is that the SECURE Act has removed the “stretch” provision for beneficiaries of IRAs and things like 401(k)s. Under the old law, the beneficiary could stretch out the RMDs over his or her own life—which could be a very long time if the beneficiary is considerably younger. Under the new bill, your heirs might have to do a full distribution within 10 years of the owner’s (your) death.
This change does not apply to all beneficiaries, specifically, surviving spouses, minors, disabled individuals, the chronically ill, and beneficiaries not more than 10 years younger than the owner. But for those who don’t fall into any of those categories, it does create significant tax consequences. There are also concerns over the impact to trusts, especially those that have been named the beneficiary of an IRA.
Join the Attorneys of Surprenant & Beneski, P.C. and guest Financial Planner, Anthony Salerno of Ameriprise, for one of the following events where they will share how this change can be addressed in your retirement & estate plan.
To register for this WEBINAR click here!
**Please note that if you prefer to attend an in-person section, please see available dates in our events section.