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The SECURE Acts: 2024 Updated Changes and Planning Strategies

THE SECURE ACTS: 2024 UPDATED CHANGES AND PLANNING STRATEGIES

Cost Free
Presentation Length 1.0 hour

Recorded DateFebruary 14, 2024
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on January 1, 2020, effectively eliminating the ability to “stretch” IRAs going forward, although certain individuals still can. SECURE Act 2.0 was signed into law on December 29, 2022, and adds multiple new retirement plan provisions. All of these changes will impact how your clients transfer wealth to their beneficiaries and point out flaws in their existing plans as any previous advice given should be invalid. Help assist your clients through misconceptions, incorrect information, and outdated planning techniques. Clients with IRA trusts have been (and will continue to be) affected the most and need professionals to guide them to better solutions. 

This webinar will cover:

Overview of the SECURE Act 


  • 401(k)s for part-time employees

  • IRA contributions for graduate students

  • Penalty-free withdrawals for student loan debt and birth or adoption

  • More access to annuities in 401(k) plans

  • Deductible IRA contribution age limits eliminated

  • Required Minimum Distributions (RMDs) increased to age 72

  • Semi-elimination of the “Stretch” IRA


Overview of the SECURE Act 2.0


  • RMDs increased to age 73

  • RMD penalty reduced to 25% 

  • Increase in catch-up contributions

  • Roth contributions for SEP and SIMPLE plans

  • Roth catch-up contributions

  • Elimination of RMDs for Roth 401(k) plans

  • 529 plan rollover to Roth IRA

  • Student loan payments treated as elective deferral for match

  • Exemption from 10% early withdrawal penalty for hardship

  • QCD distribution to charitable gift annuity or trust 


Learning Objectives:


  • List payout options for beneficiaries before and after the SECURE Act 

  • Summarize an overview of the SECURE Act and SECURE Act 2.0

  • Recognize new IRS proposed (and subsequently final) regulations on RMDs 

  • Outline tax consequences and asset protection 

  • Identify how to help clients pass assets efficiently

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Carlos Dias Jr.

Dias Wealth
Founder and Managing Partner
carlos@diaswealth.com
(407) 801-2244

Diaswealth

Carlos Dias Jr. is a financial adviser, public speaker, and president of Dias Wealth LLC in Orlando, Florida, offering strategic financial planning services to business owners, executives, retirees, and professional athletes.

Carlos is a nationally syndicated columnist for Kiplinger and has contributed, been featured, or quoted in over 100 publications, including Forbes, MarketWatch, Bloomberg, CNBC, The Wall Street Journal, U.S. News & World Report, USA Today, and several others. He's also been interviewed on various radio and television stations. Carlos is trilingual, fluent in both Portuguese and Spanish.

 

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About Our Presenter

Diaswealth
At Dias Wealth, our team works with clients from many backgrounds plan for a successful financial future. We provide real solutions that can help you make better financial decisions with a full range of investment management options, including tax, financial, charitable, asset protection, and estate planning services.