- Of Counsel
The SECURE ACT changes the age for required minimum distributions (RMDs) for traditional IRAs from 70 ½ to 72. The new rules allow an individual of any age to make contributions to a traditional IRA, as long as the individual has earned income from wages or self-employment. The Act also affects beneficiaries of inherited IRAs. Other than a few exceptions, inherited IRAs (for deaths of IRA owners on or after 1/1/2020) are now required to be completely distributed within ten years following the death of the original account owner. In view of this significant change for inherited IRAs, estate plans put in place prior to the SECURE ACT may need to be revisited. Read more here.
Trishka Waterbury Cecil, Of Counsel with the Firm, has completed her annual Year-End Law Review for 2020 (a/k/a the “Big Book”) which is now available for members on the New Jersey Institute of Local Government Attorneys (NJILGA) website: https://www.njilga.org/. At a webinar presented on November 19, 2020 at the New Jersey State League of Municipalities Virtual Conference, Trishka (NJILGA Past President) and Steve Goodell (Treasurer), highlighted and discussed selected local government cases from the past year and entertained questions and comments from attendees.
Sharon Dragan, a Director with the Firm, has recently been elected to serve as Secretary for the NJ Institute of Local Government Attorneys in 2021. For more information about the NJILGA, see
Click Link Here to read important information regarding the Families First Coronavirus Response Act.