Estate Planning with IRA Trusts after the SECURE Act

When the legislation known in Congress as the Setting Every Community Up for Retirement Enhancement (SECURE) Act became law, the rules governing beneficiaries of IRAs inherited after January 1, 2020 were changed significantly.  For owners of IRA accounts who implemented special trusts for the post-mortem preservation of their retirement plan assets, it is now essential … Continued


Virginia Lawmakers Act to Help the Good Guys

During the 2019 Session of the Virginia General Assembly, two legislative changes were made to Virginia’s versions of the Uniform Power of Attorney Act and the Uniform Transfers to Minors Act which will provide aid and comfort to those who seek to protect the financial interests of loved ones who are vulnerable, whether they are … Continued


Virginia Enacts Changes to Spousal Elective Share Rules (Effective 1/1/2017)

During its 2016 Session, the General Assembly of Virginia amended its elective share statutes (which allow a surviving spouse to claim a percentage of the augmented estate of the deceased spouse) to include new terms of the Revised Uniform Probate Code. While the previously enacted Code provisions for the determination of an elective share were … Continued


Render to Caesar Before Yourself – United States v. Read, T.C.

In 1999, Randy Read established an irrevocable trust for his children, naming himself as Trustee, and contributed stock options (earned by his wife) worth well over $700,000. Two years later, the trust assets had a value of just over $160,000 and a tax liability of about $122,000. Thereafter, he made distributions from the trust for … Continued