July 27, 2021—The SECURE Act, which went into effect in 2020, severely curtailed the “stretch IRA” as an estate planning strategy. Previously, a beneficiary could extend IRA distributions over his or her lifetime. Now, an heir must withdraw all assets within 10 years of inheriting the account, which can present major tax consequences.
July 13, 2021—When creating a trust, the first decision is likely to be the most important one—choosing a trustee. Should it be a friend, family member, spouse, or a corporate trustee? The decision-making process involves several considerations to find the best fit. In today’s podcast, National Director of Delaware Trust Planning Jeff Wolken reviews the duties and responsibilities of a trustee to help you select one that is most appropriate for your situation.
June 29, 2021—For many family business owners, the company they developed and grew over the years has shaped their identities, given them purpose, and may have been the catalyst for keeping their families together. Following the sale of a family business, some may feel a sense of loss and perhaps even regret, unsure about what to do next.