Estate & Asset Protection Law Firm Founder Victoria Collier Provides Insight On The SECURE Act

By: The Estate & Asset Protection Law Firm
 
 
Victoria Collier
Victoria Collier
 
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DECATUR, Ga. - Feb. 17, 2020 - PRLog -- Estate & Asset Protection Attorney, Victoria Collier reviews some of the basics of the SECURE Act and suggests a review of estate plans based on an IRA or other retirement plan that may be impacted in the 2019 tax season.

DECATUR, GA, February 17, 2020
: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new article on her law firm's website entitled "New SECURE Act Comes With Good News And Bad News For IRA Based Estate Plans." Ms. Collier provides a brief overview of both and suggests readers understand the details and nuances of the new law.

Collier states, "The new act is sure to affect you and/or your designated heirs in one way or another. And, as might be expected, the law has good news for some and bad news for others."

As Collier points out, "Prior to this year, owners of an IRA would be required to start taking distributions when they reached 70 ½ years of age. That has now been extended to age 72, unless you turned 70 ½ in 2019. Then you are subject to the previous RMD."

"In addition," says Collier, "once you reached 70 ½ years of age, prior to the SECURE Act, you could not continue to contribute to your IRA or retirement account. Now, you can continue to make contributions.This is good news since so many seniors who have reached retirement age continue to work."

The entire article can be read at https://www.elderlawgeorgia.com/articles/new-secure-act-comes-with-good-news-and-bad-news-for-ira-based-estate-plans/

About Victoria Collier

Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of seniors when their health care needs increase.

Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as "Fellow" of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 - 2016 and was awarded Dekalb County Veteran of the Year, 2013.

About The Estate & Asset Protection Law Firm

The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.

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Tags:The SECURE Act
Industry:Finance
Location:Decatur - Georgia - United States
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