The SECURE Act: Decoded
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Webinar Description
Estate Planners are – perhaps surprisingly – starting off 2020 with a significant change in a major area of estate and financial planning. The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act was enacted on December 20, 2019, and is effective on January 1st. It makes several changes to the minimum distribution rules for individual retirement accounts and other retirement assets, changes the age cap for contributing to retirement accounts, and severely limits the use of so-called “stretch-IRAs.” This last change is likely to have the most impact on estate planners, because it removes the ability to stretch out payments from retirement assets over a beneficiary’s lifetime – for all but a few types of beneficiaries – and requires payout within ten years.
Planners now need to know how the SECURE Act impacts their clients’ existing plans, and how to plan for the future. Will the existing estate plan still work as intended? What changes are recommended, and why? Which beneficiaries can still obtain the benefits of a life-expectancy payout?
InterActive Legal is fortunate to have the nation’s leading expert on Retirement Benefits Planning as one of our Advisors. Join Natalie as she discusses the impact of the SECURE Act in our first Hot Topic Webinar of 2020, to learn how best to advise your clients on this major law change.
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