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Nirenstein, Horowitz & Associates P.C. •

SECURE Act 2.0 FAQs | Connecticut Estate Planning Attorneys

Did the SECURE Act impact individual retirement account beneficiaries?


Yes, it had a major impact on non-spouse IRA beneficiaries. The beneficiaries of both types of accounts are required to take distributions on an annual basis. Distributions to Roth account beneficiaries are tax-free, and traditional account beneficiaries pay taxes on the income.

RMD amounts were based on the age of the beneficiary and the amount of money that was in the account. A younger beneficiary of a well-funded...
American Academy of Estate Planning Attorneys •

Estate Planning Software: Don't Fear the Learning Curve

Embracing new technology can be intimidating, especially when it comes to estate planning software. However, there’s no need to fear the learning curve. The best platforms are designed to be intuitive, and ample help is available to guide you.
Once you overcome the initial hurdles, you’ll unlock game-changing benefits that can transform your practice.
Modern legal practice software platforms are built with user-friendliness in mind. Developers understand that legal professionals need tools that...
Carroll Law Group, PLLC •

Minor Children & Young Adult Planning - Carroll Law Group, PLLC

Surveys have found that about one in four American adults between the ages of 18 and 45 have estate plans in place. On the one hand, it is easy to understand why people in this age group feel as though they don’t have to be concerned about mortality. However, people pass away at all ages every day, and many individuals in this group are the parents of minor children.


It is definitely better to be safe than sorry when you have children depending on you for everything. Estate planning for a you...
Carroll Law Group, PLLC •

New Braunfels Asset Protection and Business Planning

If you are starting a small business, you have a lot of things to think about, and asset protection is one of them. A sole proprietorship can seem like a simple way to go, but you are taking a risk when your personal property is intertwined with your business interests. Legal structures can be utilized to significantly minimize your exposure to legal actions and can often provide tax benefits.


One of the more widely utilized asset protection structures is the limited liability company (LLC)....
Carroll Law Group, PLLC •

New Braunfels Elder Law - Carroll Law Group, PLLC

Elder law attorney helps clients navigate the eventualities of aging from a legal and financial perspective. Long-term care and the costs that go along with it are the primary sources of concern, and you should understand the facts if you haven’t researched the subject.


According to the United States Department of Health and Human Services, 7 out of 10 seniors will require help with their activities of daily living. Just over half of them will incur long-term care expenses because they need a...
Oakley Law Group •

Real Estate Gains Can Lead to Estate Tax Liability | Oakley Law Group

California property values have been growing by leaps and bounds over recent years, and this has been an exciting development for homeowners and people who own investment property. Gains are good, but there is a potential downside from an estate tax liability perspective, and we will look at it here.
The federal estate tax is a looming threat for people who have enjoyed a high level of financial success. It is only a factor for high net-worth individuals because it is applicable to the portion o...

Parents Sue School After Fatal Playground Accident

Eight-year-old Dallin Cunningham passed away in February 2023 after falling from a playground slide at Rose Springs Elementary School in Utah. It was a corkscrew-style configuration, and according to reports, his momentum carried him off the slide on one of the turns.

He initially survived the fall, but he died the following day from traumatic head injuries. According to news reports, his family is now suing the school to recoup $90,000 in medical costs and other damages.

Contact the Education

College Medical Amnesty Can Save Lives

The opioid epidemic has been a source of concern in the United States for several years, and college campuses are certainly not immune. Excessive binge drinking has been a problem at colleges and universities for decades.

Severe abuse of drugs and/or alcohol can result in life-threatening medical emergencies. Aside from the immediate physical peril, there's another consideration: calling for help when they see a drug overdose or alcohol poisoning can land both the victim and the student reporti
American Academy of Estate Planning Attorneys •

Cybersecurity and Compliance: Safeguarding Your Practice with Software

Estate planning legal practices have a heavy burden of responsibility regarding client privacy. For this reason, law firm software security is a major consideration. In this post, we will look at cybersecurity and compliance first, and then move on to the legal practice software solutions that are out there.

Cybersecurity refers to the measures taken to protect electronic information from unauthorized access or theft. A breach can lead to significant legal liabilities, loss of client trust, and
Montgomery Law Firm, LLC •

Legal Assistance Is Invaluable During the Trust Administration Phase

When you discuss your options with an estate planning attorney, you will learn about the revocable living trust. This device is a popular alternative to a simple will because it provides benefits that are simply not there when a will is utilized. The simplicity of trust administration is one of them.

One of the benefits of a living trust over a will is the streamlined estate administration process. The executor that is named in the document would admit the will to probate, and the court would p
The Oakley Law Group •

What Are the Rules for IRA Beneficiaries?

You contribute to your individual retirement account to accumulate a nest egg that you can draw from during your senior years. However, if things go well from a financial standpoint, you may find that the resources will be handed down as part of your estate.

Of course, there are people who proactively use individual retirement accounts for estate planning purposes. This used to be a very effective strategy, but it is not as potent now because of a provision in the first SECURE Act.

In this pos
Nirenstein, Horowitz & Associates P.C. •

Incapacity Planning: Address Potential Cognitive Impairment | Connecticut Estate Planning Attorneys

Yes, asset transfers are at the core of the estate planning process. At the same time, you should see a complete picture and prepare for eventualities that you may face toward the end of your life. Incapacity planning should be part of your plan, and you will see why when you understand the facts.

Your golden years can be full of the good times you have always envisioned. You can travel, cross things off your bucket list, enjoy leisure activities, and spend a lot of time with your family and fr
Nirenstein, Horowitz & Associates P.C. •

Estate Planning Myths Can Lead You in the Wrong Direction | Connecticut Estate Planning Attorneys

Some misinformation circulates about certain aspects of the estate planning process. People sometimes make costly errors because they buy into these estate planning myths, and with this in mind, we will look at some of these commonly held misconceptions in this post.

1. Estate planning is not necessary until you are a senior citizen.

Obviously, most people do not pass away when they are under the age of 60, but it does happen each and every day. When you are a single adult with no responsibili
Oakley Law Group •

You Can Learn From These Celebrity Estate Planning Mistakes | Oakley Law Group

The larger-than-life popular music icon Prince passed away before his time in 2016. He left behind a treasure trove of fantastic music, and the rights to his intellectual property and his image will have value for many years to come. And of course, he was in possession of significant wealth at the time of his passing.
You would assume that a wealthy person with a management team would be aware of the importance of the estate planning. However, for some reason, Prince did not have an estate plan...
Oakley Law Group •

Are You Prepared for the Eventualities of Aging? | Oakley Law Group

You should take a comprehensive approach when you are planning your estate. Yes, you have to address the way that your assets will be distributed after you are gone. At the same time, it is important to consider the eventualities that you will face when you reach an advanced age.
Alzheimer’s is not the only cause of cognitive impairment, but it is the most significant threat. It strikes about 32 percent of the oldest old according to the Alzheimer’s Association, so it is something to take very s...
Montgomery Law Firm, LLC •

Do I Report an Inheritance to the IRS?

Uncle Sam always wants a slice of your pie, so you have to report income from all sources when you file your tax returns. This can lead to the belief that an inheritance would be taxable income.

Do you really have to report an inheritance to the IRS? We will answer the question in this post, and we will provide a general overview of the way that taxes can impact inheritances.

If you save money after you get paid, you are putting away cash that is left after you paid your taxes. After your pass