In the dead of night on December 19th, 2019, Congress voted in an astonishingly unusual and forgotten show of bipartisanship (368-143) to approve the SECURE ACT. Most Americans are unaware of this legislation as all our attention and that of the media were focused on the impeachment and the following pandemic. The bipartisan approval and the timing of this bill should command all of our attention. It certainly took our breath away to the extent that we felt compelled to dig into this bill and report the facts to you.
In short, The SECURE ACT effectively changed the rules on inherited IRAs. Without an adjustment, or at the very least, a review of your current investment strategy, you may be leaving your children with a potentially devastating & unintended tax problem.
We thought it a good idea to inform as many people as possible about these significant mutations Congress has implemented in what could arguably be described as the "shadiest" of circumstances.
The following document is a transcript from a free webinar we created to unpack the positive and negative effects of The SECURE ACT. Of course, the consequences of this legislation will vary with individuals based on their specific situations and that of their children.