Wilmington Trust’s Chief Wealth Strategist Alvina Lo discusses the impact of longevity on wealth transfer with Editor in Chief of Trusts & Estates magazine, Susan Lipp, at the 54th Annual Heckerling Institute on Estate Planning.Please see important disclosures at the end of the video.
Chief Wealth Strategist Alvina Lo shares her insights in a conversation with the Trusted Counsel on the intricacies of selling a business. She shares how many entrepreneurs and business leaders tend to put off thinking about selling their businesses, and what will happen to their assets without them, until it’s too late. The results of not planning are often felt by families as well as business partners.
The SECURE Act contains many changes for individuals with retirement plans as well as small businesses with retirement plans.The elimination of the “stretch” provisions for most non-spouse beneficiaries of IRAs and defined contribution plans (like a 401(k)) is perhaps the most significant and publicized change that is brought about by the SECURE Act.The Act provides for a later starting date for required minimum distributions (RMDs) from retirement accounts, up to 72 from 70½.