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The SECURE Act: Why Inheriting an IRA Takes a lot of Self-Discipline

The SECURE Act, the most significant reform of retirement legislation in decades, is going to dramatically impact your retirement planning. For most Americans, a retirement account is the largest asset they will own when they pass away, which is why it’s so important that you get a grip on how to make the SECURE Act work for you and make it a priority in your estate planning.

In this legal webinar from California Estate Planning attorney, James L. Cunningham Jr., you’ll learn about the changes of the SECURE Act and how this could impact you and/or your loved ones. We’ll examine examples of how the SECURE Act could impact the beneficiaries of your IRA, and how it’s a retirement game changer.

In case you’re not aware of it, the SECURE Act increased the required beginning date (RBD) for required minimum distributions (RMD) for your IRAs from 70 1/2 to 72. “Stretch” IRAs are now limited to 10 years, which means beneficiaries have to take out the entire balance by the end of the 10th year following the account owner’s death. This creates an enormous opportunity to blow this inheritance (not to mention that it puts the beneficiary in a higher tax bracket!).

That’s why we’ll talk about legal tricks to protect your money like:

  • Putting it in an IRA in trust
  • Waiting for 10 years
  • Moving the trust to Nevada
  • Tax planning strategies

It’s complicated for the average person, but with a crack estate planning team behind you, you can use the SECURE Act to protect your assets and leave your heirs with more money.

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