Wills, Trusts & Estates: Plain and Simple – New Retirement Account Rules: Should You Re-Visit Your Estate Planning Documents?

Farrell Fritz, P.C.
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Under the SECURE act, which was passed by Congress just before Christmas, the new starting age to take Required Minimum Distributions (“RMD’s”) from tax-deferred retirement accounts (exs. an IRA, a 401(k), hereinafter “IRAs” for ease of reading) is now the year after you turn 72, up from 70 1/2. Also, you can continue to contribute to your IRA as long as you like, as long as you are still working.

Originally published in Lloyd Harbor Life - March 2020.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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