The SECURE Act, which was effective January 1, 2020, is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has some positive changes: it increases the required beginning date (RBD) for required minimum distributions (RMDs) from...
Because the income tax on an IRA is deferred, a beneficiary who inherits an IRA is required to either: withdraw all the funds within 5 years of inheriting and pay the income tax due on the entire account; or take annual required minimum distributions (“RMD”) and pay...
Estate planning helps you maximize the value of your estate so that you can pass it on to your loved ones. It’s also the best way to reduce any expenses related to tax obligations and other financial risks. Estate planning helps you minimize your estate taxes so that...
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