Call 801-274-0062 to schedule your free Estate Planning consultation.
The law firm of Sadler & Wilson is dedicated to helping individuals and families in every aspect of planning and administering estates. Attorneys Cindy Morris Sadler and Emily Sadler Wilson focus exclusively in the area of estate planning and have more than 26 years of experience. They will listen to you and put your wishes into legal documents to make sure your desires are followed. It is their goal to provide the documents you need for your unique situation - from the simplest estate to very complex arrangements.
Because life is constantly changing, Cindy and Emily recommend updating estate plans regularly, especially for those who are entering a second marriage, have significant changes in the value of assets or have acquired additional properties. Wills and trusts should be updated whenever there has been a significant change in one's life. No estate is too small to be well planned.
The attorneys of Sadler & Wilson are also experienced in informal probate proceedings. Cindy and Emily work with family members and personal representatives to make the probate process smooth and stress-free.
The SECURE Act and Inherited IRA
The SECURE Act was signed into law on December 20, 2019. It has changed the rules for distributions from the Inherited IRA. Non-spouse beneficiaries must now take a full payout within 10 years of the death of the original account holder. In general, it is no longer possible to stretch out the distributions over a longer period of time unless the original account holder died prior to 2020. There are some exceptions to this rule for minor children and disabled beneficiaries.
Naming a trust as the beneficiary to your IRA can complicate the distribution process. If you have an IRA that you planned to leave to beneficiaries based on the prior rules, you should talk to your tax advisor or estate planning attorney to evaluate just how this new law will impact your beneficiaries.