On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act (“the Act”) with a bipartisan vote of 414 to 5. The Act has been nick-named the “Secure Act 2.0” as it [...]
An older RMD age will allow IRA owners to defer withdrawals, allowing assets to continue growing for longer. Removing the age limit for individuals to contribute to their IRA accounts benefits [...]
Important changes in the SECURE Act include: The required minimum distribution age (“RMD”) increased from 70.5 to 72 years old. Removal of the age limit for IRA contributions. The [...]
The “SECURE” Act stands for ‘The Setting Every Community Up for Retirement Enhancement Act’ and was signed into law by former President Donald Trump on December 20, 2019. The law [...]
It is the fiduciary duty of the trustee to manage the assets of the Trust in compliance with the terms of the Trust and the Florida Trust Code and to act in the best interests of the [...]
Florida does not collect state estate and inheritance taxes, but there are federal estate taxes to which one might be subject. In 2018, the federal estate tax exemption is $11.2 million per [...]
The reasons that a person might name a Trust as the beneficiary of his/her Individual Retirement Accounts (IRA) assets are many, but it is sometimes done in cases where the grantor has a minor [...]
A pass-through entity is a business the profits of which “pass through” to the business owner and are federally taxed at his/her individual rate. Pass-through entities can be both S corporations [...]
The probate procedures in every country are unique, and different inheritance laws can clash. Usually, when an individual dies leaving assets in multiple countries, it is necessary to obtain a [...]
Summary administration is a form of probate which is generally less time-intensive and less expensive than a full probate. Pursuant to the Florida Probate Code, the following conditions must be [...]
