FWW Estate Planning & Administration Alert: SECURE Act


Many clients have embraced the notion of guiding their children or other IRA beneficiaries to "stretch" distributions over the life expectancy of the child or other younger beneficiary.  Stretching the distributions over the beneficiary's life expectancy was a powerful income tax planning option since beneficiaries could let more of the account grow on a tax-deferred basis.  The stretch IRA rules were modified substantially when, on December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law.  The SECURE Act passed with broad bipartisan support and is intended to expand retirement savings opportunities for workers.

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