SECURE Act changes to IRAs will affect you or someone you know in 2020. The ‘‘Setting Every Community Up for Retirement Enhancement Act of 2019’’ (SECURE Act) begins on page 604 of H. R. 1865, the 715-page Congressional appropriations bill that President Trump signed on December 20, 2019. This article highlights some SECURE Act provisions and suggests income tax planning strategies that may help some families reduce tax burdens.

SECURE Act IRA changes may affect retirement planning strategies dramatically. On May 23, 2019, 417 members of the U.S. House of Representatives voted to change IRAs with the “SECURE Act” (Setting Every Community Up for Retirement Enhancement Act of 2019). If Congress and the White House agree on a bill, it will change the landscape for retirement contributions and required IRA withdrawals. This article describes some of the SECURE Act’s key aspects and an alternative U.S. Senate bill.

Retirement plans, annuities, and life insurance policies are great tools to accumulate and protect wealth for some people. However, all investments require some attention to details regarding beneficiary designations and ownership choices. None of these tools fits everyone and some tools can be inappropriate for some people. A knowledgeable estate planning attorney uses these financial […]

[See our Disclaimers page about relying on this website’s contents.] Congress passed the Achieving a Better Life Experience Act (ABLE Act) today. The ABLE Act says that its purpose is to: (1) To encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality […]

[See our Disclaimers page about relying on this website’s contents.] We think about gift-giving during the holidays, but many people miss  opportunities to give taxable dollars to their favorite tax-exempt churches, colleges, and poverty relief organizations. An entire segment to estate planning is dedicated to the process of helping people give money to charities and […]