This 16-page informative guide:
- Explains how the SECURE ACT, signed into law December 20, 2019, radically changed the tax and estate planning landscape, particularly for individuals with substantial amounts in retirement accounts.
- Summarizes the changes and reviews timely tax planning and estate planning tactics for you to consider in 2020 and beyond.
- Identifies who is most impacted by this $15.7 billion (estimated over the next decade) tax increase and what to do to mitigate or eliminate this new tax exposure.
- Pinpoints the three most relevant tax code changes and outlines, item by item, different strategies to consider to pursue with us and your CPA and estate attorney.
- Also reviews the change in Required Minimum Distribution (RMD) Rules for individuals age 70 ½ and above.
- Also reviews two important changes to 529 Plans, for those providing (or seeking to provide) educational funding assistance to family members or friends.