BLS Insights

Category: Estates & Trust

IRS Extends Relief for Inherited IRAs

May 02, 2024

For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or … Continued

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Social Security’s Future: The Current Situation & Potential Solutions

May 25, 2023

Recent reports have raised new concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American … Continued

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Proposed Regs for Inherited IRAs Bring Surprises

July 05, 2022

Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes … Continued

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Additional Extension and Due Date Updates

March 31, 2021

PPP Extension Act of 2021 On March 30, President Biden signed into law the PPP Extension Act of 2021. The Paycheck Protection Program, which was scheduled to expire on March … Continued

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Considerations Before Meeting with Your Estate Planner

September 01, 2020

The coronavirus pandemic has only punctuated a point that planners have been making for years. Everyone needs an estate plan. Admittingly, the process can seem overwhelming, so we’ve broken down … Continued

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The Need for Estate Planning

June 30, 2020

With the basic exclusion amount over $11.5 million and growing, along with the availability to port a married decedent’s unused exclusion, most individuals will not have a federal or state … Continued

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SECURE Act: Changes to IRA Contributions and Retirement Plan Distributions

June 18, 2020

The SECURE Act made several positive changes including expanding the availability of being able to contribute to an IRA beyond age 70 ½ and increasing the age to 72 for … Continued

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Why Americans Are (Wrongfully) Re-Thinking the Need for Estate Planning?

March 21, 2019

With the basic exclusion amount at $11.18 million and growing, along with portability of a decedent’s unused exclusion, most individuals will not have a federal estate tax liability.

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Tax Cuts & Jobs Act Doubles The Estate Tax Exclusion

March 22, 2018

They (Congress) wanted to repeal the “death tax.”  They (Congress) told us they were going to repeal the “death tax.” So what happened?

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