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The elimination of the Stretch IRA that resulted from passage of the Setting Every Community Up for Retirement (SECURE) Act is a game changer for wealth advisors, estate planners, and those parents who were considering bequeathing savings in individual retirement accounts to their kids.
"For a lot of people, the bulk of their wealth has been established in their IRAs," said Michael Repak, vice president and senior estate planner with Janney Montgomery Scott.
"This law, even though it didn't get the publicity of the Tax Cuts and Jobs Act, will have an equal impact on estate planning," he added.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
