Probate & Estate Planning Section Meeting

The SECURE Act, passed into law at the end of 2019, will have a major impact on tax, retirement, and estate planning, particularly in light of the loss of the lifetime stretch for most beneficiaries of retirement accounts. This presentation will explore how the SECURE Act impacts both the retirement account owner as well their beneficiaries, and explore the strategies both parties can take to mitigate those impacts.

Attendees will leave with a better understanding of:
• Rule changes under the SECURE Act, including elimination of the age limit for retirement plan contributions, new starting age for required minimum distributions, and loss of the lifetime stretch for most beneficiaries,
• How the SECURE Act impacts 529 plans, employer retirement plans, and the Kiddie tax.
• Eligible and Non-Eligible Designated Beneficiaries under the SECURE Act.
• Strategies available to the retirement account owner as well as beneficiaries to mitigate the loss of the lifetime stretch for non-eligible designated beneficiaries.
• Roth conversion planning, Charitable Remainder Trusts, Conduit and Accumulation Trusts, and life insurance in light of the SECURE Act.
• “Applicable Multiple Beneficiary Trusts” for disabled and chronically ill beneficiaries.
• The CARES Act and retirement accounts in 2020.

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MCBA IS AN APPROVED PROVIDER AND CERTIFIES THAT THIS ACTIVITY HAS BEEN APPROVED FOR MINIMUM CONTINUING EDUCATION CREDIT BY THE STATE BAR OF CALIFORNIA IN THE AMOUNT OF 1.5 HOUR TOWARDS GENERAL/Estate Planning, Trust & Probate Legal Specialization Credit CLE.