| RETIREMENT PLANNING | Prevent Roth conversions of after-tax dollars (eliminate backdoor Roth contributions) | Add required minimum distributions at age 701/2 for Roth accounts | Require 5-year rule for non-spouse IRA beneficiaries (eliminate stretch IRA) | Prevent new retirement contributions for those with >$3.4M in account balances | Repeal net unrealized appreciations rules for employer stock in an employer retirement plan |
| ESTATE PLANNING | Establish 10-year minimum term for grantor retained annuity trusts | Require property sold to an intentionally defective grantor trust to be included in the estate | Create 90-year maximum term to prevent dynasty trusts | Limit total present interest gifting through Crummey powers | Eliminate step-up in basis, replaced with deemed-sale-at-death rules |
| OTHER INCOME TAX "LOOPHOLE CLOSERS" | Limit 1031 like-kind exchanges of real estate to maximum $1M gains deferral | Require average cost for all stock sales (no more specific lot identification or FIFO/LIFO choices) | Apply 3.8% Medicare surtax on investment income to passive S corp dividends | Limit transfer-for-value rules for buyers of life settlements |
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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