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Tax Laws and a Pandemic – Considerations for Your Estate Plan Webinar

The SECURE Act, passed in December 2019, and the CARES Act passed in March 2020, brought significant implications to retirement accounts, estate plans, and tax planning. Add to that the conditions brought about by the pandemic and you have a perfect recipe for a retirement and estate planning discussion.

During this webinar, in collaboration with WMHT, Cindi Turoski, CPA/PFS, CFP®, provided participants with valuable considerations to help when doing their own planning. In particular, the SECURE Act made significant changes for those inheriting retirement accounts, which may warrant changes to estate plans. It also made contributing to a traditional IRA easier and pushed out the starting age for required minimum distributions (RMDs) to age 72. The CARES Act suspended 2020 RMDs and made it easier to get to retirement funds for those impacted by COVID-19.

The economic fallout from the pandemic creates estate planning opportunities for those with the means.

The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We, therefore, make no warranties, expressed or implied, on the services provided hereunder.