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SECURE Act 2.0 Considerations for Estate Planners and Administrators

Challenges and Opportunities for Retirement Benefits, Trusts, and Distributions

Recording of a 90-minute CLE/CPE video webinar with Q&A

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Conducted on Friday, December 13, 2024

Recorded event now available

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This CLE/CPE webinar will provide guidance to estate planners and advisers on the impact of the SECURE Act 2.0 on estate planning and administration. The panelist will discuss regulatory and tax rules stemming from the SECURE Act 2.0 and opportunities for retirement benefits, trusts, and distributions. The panelist will also provide effective estate and tax planning techniques in light of the current rules.

Description

The SECURE Act 2.0 significantly expands the effect and provides additions to the 2019 SECURE Act. Estate planners, advisers, and attorneys must recognize the impact of the SECURE Act 2.0, the opportunities it provides for estate and tax planning, its requirements, and potential challenges.

Under the SECURE Act 2.0, certain workers, retired taxpayers, and small businesses stand to benefit from this recent legislation. The 2019 legislation increased the age for required minimum distributions from 70 ½ to 72, but now the RMD age has been increased to 73 for taxpayers not 72 years old on the last day of 2022.

Other welcomed additions that must be considered by estate planners include (1) a credit for 100 percent of the costs of establishing a retirement plan for eligible businesses with 50 employees or less; (2) eligibility to participate in 401(k) plans and payments on student loans for long-term part-time employees with employer matching contributions; (3) 529 plan rollovers to Roth IRAs; (4) changes to the RMD and reduction in the RMD excise tax; and other key items.

Many changes under SECURE Act 2.0 have specific effective dates along with IRS and DOL guidance in order to minimize substantial complications that may arise if such guidance isn't provided. Estate planners, advisers, and attorneys must understand the sweeping changes made by this legislation, who it affects, and how to handle the areas that are unclear as to estate and tax planning.

Listen as Salvatore J. LaMendola, Member at Giarmarco Mullins & Horton, discusses the key provisions of the SECURE Act 2.0 and how it impacts the planning and administration of estates and trusts and offers best practices for attorneys and advisers.

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Outline

  1. SECURE Act 2.0; key provisions and remaining issues
  2. Provisions effective in 2024 and 2025
  3. Changes made to the 2019 SECURE Act (1.0)
  4. Key estate planning considerations and challenges
  5. Challenges for trusts
  6. Key modifications to consider for estates and trusts
  7. Other key items and best practices for estates and trust administration

Benefits

The panelist will review these and other essential items:

  • What should estate planners know about the SECURE Act 2.0?
  • What are the unresolved issues of the SECURE Act 2.0 for estates and trusts?
  • What are estate and trust planning techniques available in light of the SECURE Act 2.0?
  • What is the impact of the retirement plan set-up credits?
  • What are the exceptions to the 10 percent penalty for early withdrawal?
  • What are the key provisions and potential challenges for estate planners?

Faculty

LaMendola, Salvatore
Salvatore J. LaMendola
Member
Giarmarco Mullins & Horton

Mr. LaMendola specializes in charitable planning and planning for retirement plan benefits. He is the editor of the...  |  Read More

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Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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