The SECURE Act of 2019: Does it Affect You?

Background As you may be aware, on Friday, December 20, 2019, President Trump signed legislation that contains provisions from the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “ SECURE Act,” or “ Act”). The SECURE Act includes several provisions affecting Individual Retirement Accounts (“IRAs”). No IRA? No Problem. If you do not have an IRA, this change in the law will not affect you and your estate planning documents. If you have an IRA that is worth over $500,000 or makes up a substantial part of your overall estate plan, and your IRA designates a trust …