On December 20th, 2019, President Trump enacted the Setting Every Community Up for Retirement (“SECURE”) Act. Effective January 1, 2020, the SECURE Act, among other things, changed the age at which you are required to start taking your required minimum distribution (“RMD”) from your individual retirement accounts (“IRAs”).
On December 20, 2019, President Trump signed the Setting Every Community Up For Retirement Act (“SECURE Act”) effective January 1, 2020. The SECURE Act dramatically changes the administration of individual retirement accounts and most other qualified retirement plans during your lifetime and after death. As many of you might know, prior to the SECURE Act,…
Second to the house, an individual retirement account (“IRA”) is usually the largest asset when looking into someone’s financial portfolio. The tax and Medicaid rules dealing with IRAs are very different yet related, quite complex and often misinterpreted or misapplied. It is important to have a general understanding of these rules in order to avoid…
