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I am currently in the process of updating my firm documents to take account of the changes resulting from the...

The stretch IRA is on a stretcher and paramedics just loaded it into an ambulance. It is on life support. Prognosis: negative. For most new beneficiaries, the stretch will not survive. The SECURE Act is the perpetrator, and it gives no quarter. The Act stood defiantly over the stretch after inflicting its damage and made no effort to run when the sirens wailed. But all is not lost. Despite its injuries and overall dire shape, prone in a hospital bed, the stretch may still help some needy heirs. Preceding this assault, essentially two classes of beneficiaries existed. There was the all-encompassing “Beneficiary” term that comprised everyone and everything. Charities, spouses, grandkids, estates, nieces, nephews, trusts, etcetera all fell under this enormous umbrella. Additionally, there was a further subdivision dubbed “Designated Beneficiaries.”

My broker recommended an RMD for 2019. Can I reduced that amount proportionately according to the percentage of after-tax contributions...

Looking for comments on the following statements to confirm my understanding and belief on “go forward” new discretionary living trusts...

Question: I turn 70 1/2 in 2020. Since I do not have to take a required minimum distribution (RMD), how much can I do in a qualified charitable distribution (QCD) this year? Ronnie Answer: Hi Ronnie, Even though you won’t have an RMD for 2020, that doesn’t affect your ability to take a QCD at age 70 ½. One of the benefits of taking a QCD is to have it count towards the RMD. However, QCDs can be taken in amounts in excess of the RMD (up to the $100,000 annual limit) and can even be taken in years (such as 2020 in your case) when there is no RMD. Just be sure not to initiate the QCD before you are actually 70 ½.

A client has the $1.2M in their 401k account. The after-tax account balance of $110K includes $59K i(post 86) after...

If a younger than 59 1/2 aged client’s spouse dies and due to age she elects to keep as an...

I was trying to think of workarounds for stretch IRAs in light of SECURE besides Roth conversions and CRUTs. One...

We have several clients where mom or dad died before 12/31/2019 and the kids did beneficiary IRA’s. The RMD’s have...

There are three new provisions in the recently enacted SECURE Act designed to promote annuities in company savings plans. That explains why insurance companies lobbied so hard for passage of the legislation. The three provisions are: New protection for plan sponsors who want to start offering annuities. New options for participants to keep their plan annuity investments if the plan stops offering annuities. A new requirement that benefit statements show annuity illustrations. Today, we’ll discuss the first of these three changes. A future Slott Report will tackle the other two.