JAMES LANGE PRESENTS:
The Best Estate Plan for Married IRA Owners after the Election & the SECURE Act: Our Tax-Savvy Thinking
This webinar will offer guidelines for what we think is the best estate plan for married IRA and retirement plan owners after the election and, more importantly, after the passage of the SECURE Act and the potentially devastating changes it has made to the Tax Code.
Here's an overview of what we'll cover:
• The impact of likely income tax increases, potential elimination of the current step-up in basis provision and the possible end of favorable capital gains rates occurring in the near future.
• Why the long-term the federal estate tax exemptions are likely to change. In 2020 the exemption stands at $11.58 million per person. That exemption “sunsets” in 2025 and reverts to $5 million per person. And now that the Democratic Party controls both chambers of Congress we may see that exemption cut in half as soon as this year. We will cover strategies for that probable, and potentially imminent, change.
A Clear Explanation of the Tax Consequences of the SECURE Act:
• The profoundly negative impact of the SECURE Act on Required Minimum Distributions of Inherited IRAs and retirement plans.
• How will this change diminish your legacy, and what you can do to minimize its impact.
• Should your heirs inherit your IRA directly, or would naming a trust be safer?
• Surprise Finding: Charitable Remainder Trusts—even if you are not charitably inclined—could be financially advantageous for your family.
• What you should do if you have children of unequal financial strength?
• A unique multi-generational plan that could save hundreds of thousands of dollars for the grandchildren.
James Lange is a 7 time best selling author and his upcoming book is all about beating the new death tax. Jim was one of the first IRA experts in the country to address the impending death of the stretch IRA.