Marianne Ludlow, an experienced Utah estate planning attorney, discusses 4 ways you can legally protect yourself and your family during the COVID-19 outbreak.
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Estate Planning is not about just passing your assets down to the next generation. It’s about transferring values, traditions, and security. It’s about having your assets create new opportunities and leaving the next generation better. We are committed to helping you develop and maintain your personalized estate and business plans so that your family and business values are preserved and you have peace of mind, security and predictability for your loved ones and business. That’s our promise to you.
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Tips, strategies, and information to help you protect your family, live a rich life, and create generational wealth.
COVID-19: Wills, Trusts, Healthcare Directives and other Legal Protections in the Midst of the Outbreak in Utah
I’ve been an estate planner for over 20 years and haven’t seen anything quite like the situation we are in now. I’ve been getting a lot of questions about what a person can do to legally plan for and protect themselves and their loved ones in this situation so I thought I’d provide some answers in this article. Several legal documents work together to ensure that you and your family are protected and that the people YOU choose are making the decisions you want. Once you become incapacitated, you can no longer designate who will make decisions on your.
The SECURE Act and Its Effect on Your Retirement Savings
In December of 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the required beginning date (RBD) for required minimum distributions (RMDs) from your individual retirement accounts from 70 ½ to 72 years of age, and it eliminates the age restriction for contributions to qualified retirement accounts. However, perhaps the most significant change will affect the beneficiaries of your retirement accounts: The SECURE Act requires most designated beneficiaries to.
