News & Analysis as of

Retirement Plan Beneficiaries Individual Retirement Account (IRA)

Troutman Pepper Locke

Estate Planning in Uncertain Times

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"God, grant me the serenity to accept the things I cannot change, courage to change the things I can, and wisdom to know the difference."- The Serenity Prayer- The first 100 days of President Trump’s administration have been...more

Offit Kurman

Equal Shares, Unequal Outcomes: Estate Planning Strategies for Parents and their Qualified Retirement Accounts

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Typically, a parent wishes to treat their children equally in their estate plan and presumes they will achieve this goal by dividing all their assets into equal shares upon their death. Accordingly, they will designate their...more

Bowditch & Dewey

IRS Issues Updates to Retirement Plan Rules under SECURE Act 2.0

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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

Carlton Fields

IRS Clarifies Application of Required Minimum Distribution Rules to Inherited Retirement Accounts

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The Secure Act, passed in 2019 and updated in 2022, made significant changes to the required minimum distribution (RMD) rules applicable to qualified retirement plans, IRAs, 403(b) plans, and other eligible deferred...more

Farrell Fritz, P.C.

New Savings Opportunity – Converting a 529 Plan to Roth IRA

Farrell Fritz, P.C. on

Recent changes implemented by Secure Act 2.0 provide a powerful retirement opportunity. Starting in 2024, Congress changed the way that 529 accounts work....more

Husch Blackwell LLP

Planning for Retirement Benefits Post-Secure Act

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On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement...more

Seward & Kissel LLP

New Option: Rollover From 529 Account to Roth IRA

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Federal income tax law offers tax advantages to taxpayers that save money in specially designated accounts earmarked for future educational expenses (“529 Accounts”).  In addition, federal income tax law also incentivizes...more

Faegre Drinker Biddle & Reath LLP

A New Opportunity for 529 Account Beneficiaries – Tax-Fee Rollovers to Roth IRAs

Beneficiaries of qualified tuition programs under Section 529 of the Internal Revenue Code (“529 accounts”) will have a new opportunity starting January 1, 2024. Under SECURE Act 2.0 (the “Act”), 529 account beneficiaries...more

Keating Muething & Klekamp PLL

Estate Planning Update: Recent IRS Ruling Offers a Stark Reminder of the Benefits of Proper Estate Planning for Retirement...

Despite ultimately finding in favor of a taxpayer surviving spouse, IRS Private Letter Ruling 2023-22-014 (the “PLR”) is chock-full of reasons to ensure proper planning is in place when it comes to IRAs....more

Warner Norcross + Judd

2022’s Secure 2.0 Act Changes Retirement Planning (Again)

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As 2022 came to a close, Congress passed an omnibus spending bill, the $1.7 trillion Consolidated Appropriations Act of 2023, and it was signed by President Joe Biden on December 29. Contained within this bill is the SECURE...more

Seward & Kissel LLP

2022 Year-End and 2023 Planning

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As the year is drawing to a close, we offer you some general advice regarding year-end planning and updated inflation-adjusted figures for 2023. Annual Exclusion Gifts - In 2022, the annual exclusion amount is $16,000...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, January/February 2023

Pay attention to securities laws when planning your estate - Do your assets include unregistered securities, such as restricted stock or interests in hedge funds or private equity funds? If so, it’s important to consider...more

Chambliss, Bahner & Stophel, P.C.

New Guidance for Inherited IRAs

Historically, if one inherited an IRA, he or she was able to stretch the distributions over the beneficiary’s lifetime. However, under the SECURE Act, passed in 2019, those stretched out rules were changed for most...more

Chambliss, Bahner & Stophel, P.C.

Proposed Legislation Would Allow Families to Extend Impact of Special Needs Trusts to Charities

Newly introduced legislation may soon alleviate a challenge families sometimes face when planning for a loved one living with disabilities. In general, any funds left to such a beneficiary should be left in a special needs...more

Gould + Ratner LLP

IRS Issues Proposed Regulations Affecting Inherited Retirement Accounts Under the SECURE Act

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The IRS has proposed regulations interpreting significant changes made by the SECURE (Setting Every Community Up for Retirement Enhancement) Act to how inherited IRAs and other retirement accounts can be treated by their...more

Stark & Stark

[Webinar] The IRS Proposes New Rules for IRA Distributions: What Do I Need to Know? - April 20th, 12:00 pm - 12:45 pm ET

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The IRS issued proposed regulations governing required minimum distributions (RMDs) from IRAs and other retirement accounts under the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Join Robert Morris from...more

Chambliss, Bahner & Stophel, P.C.

Is It Possible to Put a Retirement Plan in a Special Needs Trust?

Retirement plans often make up a significant portion of the assets of parents of children with special needs, or of individuals who have become disabled as adults. In such cases, the question arises as to whether the...more

Weintraub Tobin

Guess What? The Laws HAVE Changed – Avoiding A Conduit Trust Catastrophe After The SECURE Act

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Like most estate planners, we always remind clients that tax and estate planning laws are subject to change and frequently do. As busy practitioners, it is impossible for us to reach out to every client when a change might...more

McNees Wallace & Nurick LLC

McNees Insights – Estate Planning: March 2020

The current year sees us coming off a good year in the stock market and an economy that is strong. However, in November there is another presidential election cycle, which could bring change to which political party controls...more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How SECURE are you in your estate plan? (video transcript)

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Verrill

2020 Estate Planning Update

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SECURE ACT - What you need to know: The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on January 1, 2020. The most significant provisions of the SECURE Act involve changes to the...more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How secure are you in your estate plan?

In this brief video, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Cohen Seglias Pallas Greenhall & Furman PC

The SECURE Act: How This Brand New Law Affects Your Retirement Accounts

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was enacted on December 20, 2019, as part of a major appropriations bill. The SECURE Act is intended to make it easier for a broad range of...more

Chambliss, Bahner & Stophel, P.C.

If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate

Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...more

Perkins Coie

SECURE Act Presents Planning Challenges and Opportunities for Retirement Accounts

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The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was signed into U.S. law on December 20, 2019. The SECURE Act makes significant changes to the administration of IRAs and other tax-deferred...more

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