As we advised in last month’s newsletter, the “Secure Act” was part of a larger law that passed with (rare) bipartisan support in late-December 2019. It was effective January 1, 2020, for most purposes. This is the second in a series of articles on the Secure Act. The first article looked at the basics of the Secure Act. This article examines planning strategies for dealing with the Secure Act. As laid out in the first article in the series, the Secure Act requires more rapid distributions of … [Read more...] about Planning for the SECURE Act
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. … [Read more...] about Estate Planning Conference Discusses SECURE Act and More
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article by my friend and colleague Steve Hartness examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release … [Read more...] about No Charitable Deduction in 2018?