Continuous Learning: Matt, Dan & Steve Attend Ed Slott Workshop


Earlier this month, our advisors Matt, Dan and Steve, completed their semiannual training with America’s IRA Experts at Ed Slott and Company, LLC by participating in a virtual workshop. The online workshop provided in-depth technical training on advanced retirement account planning strategies, estate planning techniques, and new tax laws, as well as an in-depth look at the new retirement planning landscape since both the SECURE Act and CARES Act ushered in several significant tax and retirement planning laws since January 1. 
Training highlights from this event included: A look at the CARES Act including the 2020 RMD waiver, coronavirus related distributions, and changes to plan loans; SECURE Act provisions and changes effective for 2020; the elimination of the stretch IRA for most beneficiaries and the new 10-year payout rule for beneficiaries; the new SECURE Act rules for special needs trusts; 5 stretch IRA alternatives; new life expectancy tables for RMDs for 2021; 2020 tax planning including estate and gift exemption planning and a SECURE Act update for Qualified Charitable Distributions (QCDs) for 2020; disaster and recovery strategies for IRA trusts; an in-depth look at SECURE Act analysis and annuity-related changes to company savings plans; 10 things to know about the year of death RMD; common QDRO misconceptions and mistakes; creditor protection for IRAs invested in LLCs; and a look at advanced case studies and rulings. 

With the recent new rules and laws during this unprecedented time, many people are unsure of how to navigate their retirement plans this year. Through their membership with Ed Slott and Company, LLC, Matt, Dan, and Steve are constantly studying the latest retirement laws and strategies while supporting our core value of Pursuing Growth and Continuous Learning. Richmond Brothers will be reaching out to clients on an individual basis regarding any changes that may need consideration. If you have questions about how the new rules and laws may affect your personal situation, please make sure to reach out to us. 

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