Those of you who attended our 2019 Clarity Legal Group® Annual Client Education Program heard our discussion and predictions regarding the possibility of significant changes to the rules relating to IRAs and other tax deferred retirement accounts. We discussed the SECURE Act, which at the time was stuck in committee in the United States Senate, having passed the House of Representatives. On December 19, 2019, having passed the Senate, it became law, effective January 1, 2020. Clarity Legal Group® will soon be mailing or emailing all of our clients to address the appropriate responses to the change in the law for those clients who have retirement accounts.
My good friend Steve Hartnett, the Director of Education for the American Academy of Estate Planning Attorneys, has recently posted on what these changes may mean. The Heckerling conference, the largest conference for Estate Planning in the country, occurred last week in Orlando, FL. Many of the thought leaders in Estate Planning and Elder Law got together and discussed recent developments and new strategies. The SECURE Act was the biggest topic this time. Read on to learn more.