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
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
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
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
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
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
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
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.
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?