-
SECURE 2.0 Act-Review Intended Beneficiaries
With the changes to the laws pertaining to retirement accounts, now is a great time to review your retirement account information. It is important that your beneficiary designation is filled out correctly. If you want the retirement account to go into a trust, the trust must be properly named as the beneficiary. If you want…
-
SECURE 2.0 Act-Consider Additional Trusts
For most Americans, a retirement account is the largest asset they will own when they pass away. If you have not done so already, it may be beneficial to create a trust to handle your retirement accounts. Simple beneficiary designations naming an individual may not take into consideration your estate planning goals. A trust is…
-
SECURE 2.0 Act Considerations
Under the old law, retirement account beneficiaries could take distributions over their individual life expectancy. Under the SECURE Act and SECURE 2.0 Act, the shorter 10-year time frame for taking distributions will accelerate income tax due, possibly bumping your beneficiaries into a higher income tax bracket. If you have a trust, it may have a…
-
SECURE 2.0 Act
On December 29, 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act) making several changes to retirement planning. It raises the RBD age for RMDs to 73 in 2023 and 75 by 2033. It decreases penalties for not taking RMDs. Employees will be automatically enrolled in 401(k)…
Category: SECURE 2.0
Eckert & Krautkramer, LLC
Protecting Assets, Preserving Dignity, Ensuring Peace of Mind
Newsletter
Subscribe to our periodic email newsletter – full of legal updates and best practices.
By submitting this form, you are consenting to receive marketing emails from: EK Law, 630 N. 4th St., Wausau, WI, 54403, http://www.eklawwi.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact