May 2020

Protecting Inherited IRA – Replace Tax Hit With Trust-Owned Life Insurance

Written by: Stanley M. Vasiliadis Esquire, CELA A recently-enacted federal law, The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, eliminated a giant tax break for children (adults and minors) who inherit an IRA from a parent.  With limited exceptions, they can no longer stretch withdrawals over their actuarial life expectancy.  Instead,

Should Seniors Who Lose Their Job During the Coronavirus Pandemic Claim Social Security Benefits Early?

In the wake of the coronavirus pandemic, unemployment is skyrocketing. Seniors who lose their jobs may be tempted to claim Social Security benefits early, but should they, given the resulting reduction in future benefits? The answer depends on your situation, but you may be able to claim and not sacrifice much in terms of future benefits.

A Letter of Instruction Can Spare Your Heirs Great Stress

While it is important to have an updated estate plan, there is a lot of information that your heirs should know that doesn't necessarily fit into a will, trust or other components of an estate plan. The solution is a letter of instruction, which can provide your heirs with guidance if you die or