Following the IRS’ finalization of the SECURE Act regulations on July 18, 2024, it is a good time to review the retirement benefit provisions of your trust to make sure they still align with your estate planning goals....more
3/4/2025
/ Beneficiaries ,
Conduit Trust ,
Estate Planning ,
IRS ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Tax Deferral ,
Trust Distributions ,
Trustees ,
Trusts
On July 19, 2024, the Internal Revenue Service (“IRS”) issued final regulations (“2024 regulations”) regarding the SECURE Act of 2019 and the SECURE Act 2.0 of 2022, which apply to 401(a) plans, 401(k) plans, traditional and...more
12/18/2024
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Beneficiaries ,
Final Rules ,
Individual Retirement Account (IRA) ,
IRS ,
Required Minimum Distributions ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Separate Accounts
Estate plans are supposed to be living documents that evolve over time. Generally, you should review your plan every 5 years to stay current, or whenever you or your beneficiaries have a major life event such as marriage, the...more
11/1/2021
/ Asset Management ,
Beneficiaries ,
Beneficiary Designations ,
Estate Planning ,
Incapacitated Persons ,
Personal Representatives ,
Successors ,
Trust Distributions ,
Trustees ,
Trusts ,
Wills
In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more
9/29/2021
/ 401k ,
Adjusted Gross Income ,
Beneficiaries ,
Capital Gains ,
Capital Gains Tax ,
Charitable Deductions ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Federal Taxes ,
Gift Tax ,
Grantor Trusts ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Investors ,
IRS ,
Proposed Legislation ,
Retirement ,
Retirement Funds ,
Roth IRA ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Liability ,
Tax Planning ,
Tax Rates ,
Trustees ,
Trusts ,
Ways and Means Committee
By using a Charitable Unitrust Remainder Trust (CRUT), philanthropic minded donors can gift to a charitable cause while maintaining a lifetime benefit. A CRUT is an irrevocable agreement that will provide an income stream to...more
8/20/2021
/ Beneficiaries ,
CARES Act ,
Charitable Deductions ,
Charitable Donations ,
Charitable Organizations ,
Charitable Remainder Trust ,
Gifts ,
Income Taxes ,
Tax Deductions ,
Tax Incentives ,
Tax Planning
As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving.
Estate Planning -
One way to give is...more
11/25/2020
/ Beneficiaries ,
Capital Gains Tax ,
Charitable Deductions ,
Charitable Donations ,
Charitable Organizations ,
Charitable Rollover ,
Estate Planning ,
Estate Tax ,
Gifts ,
Income Taxes ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
Required Minimum Distributions ,
Tax Deductions ,
Tax Planning ,
Trusts ,
Wills ,
Year-End Tax Planning
During the COVID-19 pandemic, many people are taking action to make sure that their affairs are in order – reviewing guardian nominations for their minor children, funding their revocable trusts and, in some cases, making...more
Estate planning is about formalizing your intentions for what will happen when you pass away. For those in a second marriage with children from a prior relationship, it is even more important to spell out your intentions and...more
Based on changes implemented by the Tax Cuts and Jobs Act, this is an update on a previous post written by Eileen Y. Lee Breger in May 2017, “Families Can Use a Tax-Advantaged ABLE Account to Save for Disability...more
2/16/2018
/ 529 Plans ,
ABLE Act ,
Beneficiaries ,
Contribution Limits ,
Disabilities ,
Retirement Funds ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Incentives ,
Tax Planning ,
Tax Reform ,
Trump Administration ,
Tuition
On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 introduced new tax law that affects executors who are required to file a federal estate tax return and beneficiaries...more