The New SECURE Act and Its Effect on The Inherited IRA and Stretch IRA скачать в хорошем качестве

The New SECURE Act and Its Effect on The Inherited IRA and Stretch IRA

Build your estate plan online! MyAdvocate is the online solution for creating and maintaining your Will and all other legally-valid estate planning documents. Click the link below to get started! https://www.myadvocate.com/join/paul -- Until January 1, 2020, when an IRA owner died naming a non-spouse beneficiary, that beneficiary could take taxable distributions over the beneficiary's life expectancy. The Secure Act (Setting Every Community Up for Retirement Enhancement Act of 2019), made major changes to the distribution rule that affect Inherited IRAs. The new rules require a full taxable payout from the IRA within 10 years after the death of the IRA owner. There are a at least a couple of significant consequences that result from the SECURE Act: (1) Generally, children inherit IRAs in their 50's. Now, since these beneficiaries must pay tax on the entire amount of the Inherited IRA within 10 years, they will be paying tax on the Inherited IRA at higher rates since children will take these distributions in their high income-earning years. (2) Many IRA owners have attempted to carefully take advantage of legal strategies and named a trust as the beneficiary of their IRA. The "see-through trust" often requires the trustee to distribute the required minimum distribution (RMD) to the child or grandchild of the previous IRA owner. Now, RMD has a different definition and there will be only one RMD for the beneficiary of an Inherited IRA - 10 years after the death of the original IRA owner. Bottom line - check your traditional IRA beneficiary designations. If you named a trust as a beneficiary of your IRA, you should re-visit the terms of that trust in light of these new distribution rules, and, if appropriate, make changes. For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: https://go.oncehub.com/Paul8 This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450