Ed Slott: Don’t Forget About Stretch IRA Changes, RMD Relief Deadline
July 29, 2020 by Melanie Waddell
“Get on your horse!” Ed Slott of Ed Slott & Co. reminded folks Wednesday, because the elimination of the stretch IRA under the Secure Act is in effect now. “If a client dies today, their estate plan will probably not work out.”
The elimination, Slott reiterated during a virtual discussion during the AICPA’s Engage 2020 conference Wednesday, mostly affects large IRAs.
The Secure Act limited the “stretch” tax deferral benefits of inherited IRAs to 10 years for most non-spouse beneficiaries beginning in 2020.