News & Analysis as of September 23, 2024

Required Minimum Distributions

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Estate Planning 2024 Federal Tax Update

Lathrop GPM on 1/2/2024

As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information that may be helpful as you consider planning options for 2024. ...more

Year-End Estate Planning for 2023

Seyfarth Shaw LLP on 11/30/2023

A strong stock market and “soft landing” have generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer....more

Important Provisions from SECURE Act 2.0 for Individuals and Nonprofits

Bowditch & Dewey on 3/22/2023

On December 29, 2022, the Securing a Strong Retirement Act (commonly referred to as SECURE Act 2.0) was signed into law. This is follow-up legislation to the Setting Every Community Up for Retirement Enhancement Act, which...more

Changes Under Secure Act 2.0

Stoel Rives LLP on 1/18/2023

The SECURE 2.0 Act was signed into law in late December 2022. While the legislation contains a number of provisions, this alert focuses on the changes most relevant to individuals in their personal planning....more

What Now? Estate Planning in 2022

Pullman & Comley, LLC on 1/18/2022

After months of speculation, 2022 began with no new federal estate and gift tax legislation. As the proposed legislation wended its way through the legislative process in 2021, the major proposed changes to federal estate...more

Estate Planning 2022 Federal Tax Update

Lathrop GPM on 1/4/2022

As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information that may be helpful as you consider planning options for 2022. Because Congress could pass legislation that changes...more

Personal Planning Strategies - December 2021

Proskauer Rose LLP on 12/15/2021

The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer Relief Act of 2012 (the "2012 Act"). In 2017, the Tax Cuts and Jobs Act (the "2017 Act") significantly increased the...more

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on 10/15/2021

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more

IRS Releases Publication on RMDs for Inherited Retirement Benefits (and, of course, creates confusion)

Ruder Ware on 4/19/2021

Ruder Ware’s Trusts & Estates blog has featured several posts (for example, Call to Action: Review Your Estate Plan in Light of the SECURE Act and Why SECURE Act Matters to You) on the SECURE Act, a federal law effective...more

Maximizing End-of-Year Charitable Giving

Bowditch & Dewey on 11/25/2020

As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more

New legislation focusing on retirement savings attempts to build on SECURE Act

McAfee & Taft on 11/24/2020

Last year President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The SECURE Act was a far-reaching and bi-partisan effort aimed at increasing access to tax-advantaged...more

How Does the SECURE Act Affect Estate Planning?

Adler Pollock & Sheehan P.C. on 7/29/2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the biggest retirement planning law in decades. However, when all is said and done, the new law may have just as significant an impact on estate...more

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

Farrell Fritz, P.C. on 3/16/2020

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”...more

SECURE Act Impact on Estate Planning

Stinson LLP on 3/4/2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was made a part of the appropriations bill late in 2019 and was signed into law on December 20, 2019....more

McNees Insights – Estate Planning: March 2020

McNees Wallace & Nurick LLC on 3/3/2020

The current year sees us coming off a good year in the stock market and an economy that is strong. However, in November there is another presidential election cycle, which could bring change to which political party controls...more

The Secure Act | How SECURE are you in your estate plan? (video transcript)

Buckingham, Doolittle & Burroughs, LLC on 2/27/2020

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

2020 Estate Planning Update

Verrill on 2/26/2020

SECURE ACT - What you need to know: The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on January 1, 2020. The most significant provisions of the SECURE Act involve changes to the...more

Significant Changes to Required Minimum Distributions from Inherited Retirement Accounts May Affect your Estate Plan

Downs Rachlin Martin PLLC on 2/25/2020

Effective January 1, 2020, the rules regarding distributions from inherited retirement accounts have changed significantly. Under prior law, a so-called “designated beneficiary” of a retirement account could receive...more

The Secure Act | How secure are you in your estate plan?

Buckingham, Doolittle & Burroughs, LLC on 2/24/2020

In this brief video, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Estate Planning Impact Of The Secure Act

Polsinelli on 2/19/2020

The ‘Setting Every Community Up for Retirement Enhancement’ Act (the “SECURE Act”) was signed into law on December 20, 2019 and became effective January 1, 2020....more

If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate

Chambliss, Bahner & Stophel, P.C. on 2/18/2020

Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...more

Estate Planning Implications of the SECURE Act

Troutman Pepper on 2/13/2020

On December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act substantially changes the law applicable to IRAs and other retirement vehicles....more

SECURE Act Presents Planning Challenges and Opportunities for Retirement Accounts

Perkins Coie on 2/12/2020

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was signed into U.S. law on December 20, 2019. The SECURE Act makes significant changes to the administration of IRAs and other tax-deferred...more

Your Retirement Planning and the SECURE Act

Farella Braun + Martel LLP on 2/3/2020

The Setting Every Community Up for Retirement Enhancement Act (or SECURE Act), signed into law on December 20, 2019, changes retirement planning significantly and unexpectedly. The bulk of the changes become effective as of...more

How SECURE is your estate plan?

Buckingham, Doolittle & Burroughs, LLC on 1/31/2020

Secure Act may significantly impact your beneficiaries. Effective January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (known as the “SECURE Act”) will impact many individuals with retirement plan...more

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