Florida Elder Law & Estate Planning Blog

SECURE Act 2.0 Expands Retirement Savings Opportunities
December 26, 2022

Congress has given retirement savers a nice holiday gift: The SECURE Act 2.0.  Tucked into the $1.7 trillion omnibus budget passed on December 23, SECURE 2.0 (Setting Every Community Up for Retirement Enhancement) creates new opportunities for retirement savers of…

Withdrawal Rules For Non-Spouses Who Inherit IRAs Still Up In The Air
October 4, 2022

Prior to the 2019 SECURE Act (Setting Every Community Up for Retirement Enhancement), a non-spouse who inherited an IRA could take required minimum distributions based on the non–spouse’s life expectancy. In this manner, IRA owners who did not need retirement…

Non-Spouses Who Inherit IRAs Could Be Required To Take RMD’s
April 17, 2021

From the law is a moving target department: The SECURE Act (Setting Every Community Up For Retirement Enhancement) became law on January 1, 2020 and made several changes to the rules for retirement accounts. One provision is that non-spouse beneficiaries…

RMD’s Return This Year, More RMD Changes On Horizon
January 13, 2021

Many of the rules governing retirement accounts have changed over the last few years. Now, more changes have arrived or are on the way. Required Minimum Distributions Return In 2021 The Coronavirus Aid, Relief and Economic Security Act, passed in…

IRS gives more Americans access to corona virus-related penalty-free loans, distributions from retirement accounts
June 24, 2020

The CARES Act was designed to provide a measure of financial relief to Americans impacted by the coronavirus pandemic. The two-trillion-dollar legislation was passed on March 27, 2020. As noted in a prior post, among the law’s provisions is an…

CARES Act changes retirement account rules
March 27, 2020

The CARES Act (Corona Aid, Relief and Economic Security Act) signed into law on March 27 provides $2 trillion in relief for Americans impacted by the COVID19 pandemic. Among its many provisions, the law relaxes several rules for retirement accounts…

2020 U.S. Census Begins
2020 U.S. Census Begins
February 25, 2020

The 2020 census begins in mid-March. That is when the U.S. census bureau begins sending postcards to all U.S. households requesting their participation. You should receive the correspondence by April 1. This is the first time that households may provide data…

SECURE Act Makes Big Changes To Retirement Plans
January 2, 2020

The SECURE Act has just been signed into law and went into effect January 1, 2020. Short for Setting Every Community Up for Retirement Enhancement, the legislation makes sweeping changes to the rules for retirement plan savings. We are in the…

Portrait of an elderly woman sitting alone in a senior care facility
Medicaid Eligibility Rules Have Changed
January 1, 2020

Florida Medicaid has revised several eligibility criteria that must be met to receive benefits for long-term nursing home care. These changes went into effect on January 1, 2020. The Medicaid applicant’s gross monthly income cannot exceed $2,349 per month (was…

MyRA retirement savings program now terminated
September 3, 2017

The Obama Administration introduced the myRA program in 2014. Designed to help low- to middle-income earners with no workplace retirement plans begin saving for retirement, the myRA program was open to married couples and individuals with adjusted gross incomes up…