Every so often, there are years when estate planning becomes the hot topic among farmers. With several proposals circulating in Washington, D.C., it appears that 2021 will be one of those years.
Farm Credit East Senior Tax Consultant, Dario Arezzo, explains the benefit of an Intentionally Defective Grantor Trust for estate planning and generational transfer purposes, as well as the tax implications.
The SECURE Act passed in December 2019 with changes and exemptions worth noting. Dario Arezzo gives a summary of ‘stretch IRA’ and 529 plan changes and how they could shake out under the new rules.
What is in the SECURE Act that has garnered widespread bipartisan support? Dario Arezzo breaks down the positive provisions but addresses a downside beneficiaries should be aware of, too.