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Rebecca Rosenberger Smolen, left, and Amy Neifeld Shkedy, right, of Bala Law Group. Rebecca Rosenberger Smolen, left, and Amy Neifeld Shkedy, right, of Bala Law Group.

In articles that were published in the Legal Intelligencer in September and October 2014, we shared our thoughts on estate planning and estate administration with qualified retirement benefits, which include both IRAs and qualified retirement plan benefits, such as 401-K accounts (collectively referred to herein as tax deferred retirement accounts). Until now, not much had changed in the landscape that impacts our thinking for planning with this type of asset. However, the new provisions of the SECURE Act, which were enacted on Dec. 20, 2019, and become effective as of Jan. 1, 2020, change a key factor that goes into the planning process. The SECURE Act stands for “Setting Every Community Up for Retirement Enhancement.”

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