Not displaying properly? View as Webpage
Do I Need to Update My Retirement Accounts
Beneficiary Designations?
I want to share with you my conclusions on my recent presentation to the MassMutual Group Financial Planner Division on Special Needs on the SECURE Act.

If you have a family member who qualifies as “disabled” or as “chronically ill” and have substantial retirement accounts, you may want to review the beneficiary designation of your retirement accounts. 

Two top changes on retirement accounts with the SECURE Act of 2019 are (1) the end of the inherited retirement planning opportunity of the transfer of wealth replaced by a ten year payout requirement, and (2) an exception to the ten-year payout rule for beneficiaries that fall under the new category called Eligible Designated Beneficiaries.

The Act authorizes the creation of a trust that can benefit an individual falling into one of these two categories of eligible designated beneficiaries along with other family members while avoiding the ten-year payout requirement. In certain circumstances you may want to create a stand-alone retirement trust to take full advantage of the new rules which will benefit the special needs individual and other family members. This is a completely new approach developed for adjusting to the SECURE Act new requirements.

There are many aspects to the new law. If you have any questions about the SECURE Act and how it may affect your retirement account, please don't hesitate to contact us. We are here to help.

Our Next Two Online Seminars

Saturday December 12, 2020
Estate Planning in Plain English:
Why it's Critical to Your Loved Ones

10:00 am - 11:00 am

Learn how to avoid family clashes, court battles and undue taxes! Control how your assets will be preserved and distributed. Protect your wealth and your retirement.
Protecting You from Nursing Home Costs

11:30 am - 12:00 pm

Long-term care can quickly drain your lifetime of savings. Learn steps to take to get the care you need while avoiding impoverishment!

You may register for one or both online seminars by clicking on the above links or by contacting Keya at (703) 448-6121 or [email protected].
How to Enter an Online Seminar
Please click on the photo or contact Keya at to schedule an online seminar run-though.
Personal and Professional Notes
The above article is from Yahne's presentation at the MassMutual Group Financial Planner Division on Special Needs. Yahne is often invited to speak to professionals and community groups on new laws affecting estate and special needs planning. If you would like to have Yahne speak, please click here and put "Speaker" in the subject line.
We know Thanksgiving can be more difficult this year for some of you, with COVID-19 causing the Centers for Disease Control and Prevention to advise against travel because of the risk of spreading the virus. Here is a link to updated information. We still hope you have a wonderful Thanksgiving holiday and that next year at this time we will be back to normal!