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, Director of Education for the American Academy of Estate Planning Attorneys, recently posted about the basics of the new law. The SECURE Act passed in late December. The SECURE Act changes some lifetime rules, but the biggest change concerns rules for beneficiaries. Read on to learn more.

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Mark Costley

With more than 30 years’ experience in private practice, Mark Costley has helped hundreds of North Carolinians with estate planning, living trusts, financial law, probate, and trust administration. Mark’s work involves elements of teaching, strategic analysis and planning, documentation, and assisting clients in implementing their plans Read More!

The SECURE Act and What It Means for You

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