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Continuing the Conversation: The SECURE Act 

Continuing the Conversation- The SECURE Act

Did you see last month’s article, How the New SECURE Act May Affect You, written by Monument’s Director of Private Wealth Design, Jessica Gibbs, CFP(R)?  Well the SECURE Act is a big deal for investors like you, so this month, our Private Wealth Advisor Emily Harper, CFP(R), continued the SECURE Act conversation as a panelist on the InvestmentNews webcast, “Tax planning 2020: How does the new legislation affect your clients?” Emily is also featured in an Investment News article which covers the use of trusts to fill the void of stretch IRAs and 401(k)s.

The elimination of the “stretch” provision for inherited retirement accounts complicates things for individuals with large balances. “People who accumulated large balances inside of IRAs are having to adjust their planning to leave the same amount of wealth potential for the next generation,” Emily points out. “Their intention was to create this long-term wealth for their families that is now going away, and we have to figure out how to compensate that.”

Luckily, at Monument, we know you can’t plan your way through a problem or fix it with a product; you must design a solution. And your Private Wealth Design will be different from virtually anyone else’s.

Read more about the potential strategies that financial advisers can use to address issues caused by the lack of stretch provisions in the original Investment News article.


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