Part I of this post covered some troubling issues with Qualified plans and IRAs that arise with the arrival of SECURE Act, particularly as they apply to professionals and business owners. Since it’s been suggested that many professionals and business owners don’t retire in the conventional sense, this legislation poses some unique challenges to tax, retirement and estate planning for those individuals. The new SECURE Act, which passed the House in a landslide (417-3) and is up for unanimous consent in the Senate, will radically change the strategy of intergenerational wealth transfer for qualified plans and IRAs.

Read the full blog post by Leon LaBrecque on Forbes.com here: https://www.forbes.com/sites/leonlabrecque/2019/07/03/what-business-owners-and-their-families-should-know-about-the-new-secure-act-the-strategies/

 

View Leon LaBrecque's Forbes contributor profile and other blog posts here: https://www.forbes.com/sites/leonlabrecque/

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Image is Getty from original post.