On January 1, 2020, the SECURE Act became law. The new law will affect most retirement plan and IRA participants.
What You Should Do Now
You should review your primary and contingent beneficiary designations in your defined benefit plans and your estate plan/Living Trust. Importantly, evaluate the reasons you named your Living Trust as beneficiary. Above all, consult your attorney, your accountant, and your financial planning advisor.
Advanced planning can make all the difference.
Photo: Chad Crow
