- 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.
On July 14, 2021, Robert J. Davidow, Esq., an Associate Attorney with our firm, was appointed as general counsel to the Board for the West Windsor Parking Authority. Mr. Davidow, as a member of the firm’s Local Government Practice Group and Litigation Practice Group, is looking forward to his role in assisting the Authority with fulfilling its objectives and duties to its resident visitors. MG&P welcomes the Authority as a new client.
UrbanPromise Trenton is a non-profit, "for promise" organization providing free After School drop-in and Summer Camp programs to the youth of Trenton. Learn more at www.urbanpromisetrenton.org