Posted In: Trusts & Estates and Tax - Business & Corporate
Trusts & Estates Blog: Estate Planning for Individual Retirement Accounts Under the SECURE Act
By George P. Millich, Jr. on June 21, 2022
On January 1, 2020, the Setting Every Community Up for Retirement Enhancement (SECURE) Act came into effect drastically changing the dynamics of naming beneficiaries of Individual Retirement Accounts (IRAs). The IRS recently issued Proposed Regulations in an effort to provide additional guidance and clarification on the manner in which the SECURE Act applies to IRA beneficiaries. One of the most significant impacts of the SECURE Act is how it affects the timing of required minimum distributions and the length of time in which assets of an inherited IRA can remain in the IRA for the benefit of a designated beneficiary....
Posted In: Tax - Business & Corporate and Trusts & Estates
Trusts & Estates Blog: Taxes and Your Estate Plan
By Lori R. Kilpeck on March 18, 2022
We spent a great part of 2021 reviewing and analyzing tax proposals which would greatly impact estate planning and strategies to minimize the impact to your estate plan. The good news is that many of our immediate concerns were removed from proposed legislation in the final version of the Build Back Better bill in late 2021, and following is a summary of the current exemptions for estate and gift taxes....
Posted In: Trusts & Estates and Tax - Business & Corporate
Trusts & Estates Blog: Proposed Tax Legislation Affecting Your Estate Plan
By Lori R. Kilpeck on November 16, 2021
Please continue to check back for future updates....
Posted In: Trusts & Estates
Trusts & Estates Blog: National Estate Planning Awareness Week (October 18, 2021-October 24, 2021)
By Lori R. Kilpeck on October 20, 2021
National Estate Planning Awareness Week was established in 2008 to create public awareness of the necessity of estate planning. Currently, only about half (56%) of all Americans have a current estate plan in place....
Posted In: Trusts & Estates and Tax - Business & Corporate
Trusts & Estates Blog: Minimize Your Tax Burden With a Spousal Lifetime Access Trust
By Gina M. Bevack-Ciani on July 27, 2021
In this Trusts & Estates Blog, Gina Bevack-Ciani notes that with the current lifetime estate, gift, and generation-skipping tax exemption at an all-time high, it may be a good time to review your estate plan and consider the benefits of a Spousal Lifetime Access Trust (SLAT) to minimize your tax burden and protect assets....
