The New Year brought with it the implementation of the SECURE Act. The Act amended Section 401(a)(9) and now requires certain beneficiaries to distribute the entire inherited IRA within 10 years after the death of the owner. This amendment has a drastic change to the previous law whereby beneficiaries had the advantage to stretch out the distributions over their individual life expectancies.
Your estate plan should be reviewed so that, if necessary, updates can be implemented to provide the most tax advantageous strategies for your beneficiaries.
Please contact our office today to schedule a complimentary review.