Posts tagged Beneficiary

Most parents take certain steps to protect their children in the event of their premature death. Drafting a will, designating a guardian, obtaining life insurance and naming appropriate beneficiary designations on IRAs and 401k plans are all important components of an effective estate plan. However, most parents should take additional measures to provide guidance on how their financial assets are managed for their children’s benefit.

Estate Planning, Mid Career Professional, EducationChip Hymiller, AIF®, CFP®March 4, 2020Estate Planning, financial planning, Retirement Planning, tax planning, Trust, Will, Beneficiary

The SECURE Act: Changes for IRA Beneficiaries

We examine the changes that the SECURE act made on beneficiaries of retirement accounts. Beginning in 2020, the “stretch IRA” is eliminated for most beneficiaries. Also, we look at how trusts will be affected by the new tax law.