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--></style></head><body lang="EN-US" link="blue" vlink="purple"><div class="WordSection1"><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">In reading the text of the new law, I don’t believe that spouses lose any rights they have now. There are exceptions to the rule, which does not apply to ‘eligible designated beneficiaries’ (EDBs). The definition of an EDB includes spouses and chronically ill or disabled beneficiaries. The persons losing the stretch are children over the age of majority and other persons more than 10 years younger than the IRA holder. Unknown if naming an accumulation or conduit Trust as a beneficiary would cause the 10 year RMD period to take effect. Presumably not if a spouse or disabled person is the sole beneficiary.</span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"> </span></p><p class="MsoNormal"><a href="https://www.congress.gov/bill/116th-congress/house-bill/1994/text?q=%7B%22search%22%3A%5B%22Setting+Every+Community+Up+for+Retirement+Enhancement+Act%22%5D%7D&r=1&s=2#toc-H084B5EBD76DF47C0B895121999E2270E">https://www.congress.gov/bill/116th-congress/house-bill/1994/text?q=%7B%22search%22%3A%5B%22Setting+Every+Community+Up+for+Retirement+Enhancement+Act%22%5D%7D&r=1&s=2#toc-H084B5EBD76DF47C0B895121999E2270E</a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"> </span></p><div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f4e79">Sincerely,</span><span style="font-size:11.0pt;color:#1f497d"><br></span><b><span style="font-size:11.0pt;color:#3333ff"><br></span></b><b><i><span style="font-size:16.0pt;font-family:"Monotype Corsiva";color:#3333ff">Chris J. Moore</span></i></b><span style="font-size:11.0pt;color:#1f497d"><br></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f4e79">Christopher J. Moore, JD, CPA - Inactive, AEP®, EPLS*<br>Creason, Moore, Dokken & Geidl, PLLC<br>Lawyers<br></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#3333ff"><a href="https://www.google.com/maps/place/1219+Idaho+St,+Lewiston,+ID+83501/@46.4170263,-117.0192992,17z/data=!3m1!4b1!4m5!3m4!1s0x54a0354b7ccf3e63:0xfee7451c99c186e8!8m2!3d46.4170263!4d-117.0171105" target="_blank"><span style="color:#3333ff">1219 Idaho Street,</span></a></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#3333ff"><a href="https://www.google.com/maps/place/1219+Idaho+St,+Lewiston,+ID+83501/@46.4170263,-117.0192992,17z/data=!3m1!4b1!4m5!3m4!1s0x54a0354b7ccf3e63:0xfee7451c99c186e8!8m2!3d46.4170263!4d-117.0171105" target="_blank"><span style="color:#3333ff">Lewiston, Idaho 83501</span></a></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f4e79"><br>Phone: 208-743-1516; Fax: 208-746-2231<br>Website: </span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#3333ff"><a href="http://www.cmd-law.com/" target="_blank"><span style="color:#3333ff">www.cmd-law.com</span></a></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f4e79"><br><br>*Certified as an Estate Planning Law Specialist by the Estate Law Specialist Board, Inc., the only estate planning certification entity approved by the ABA and the Idaho State Bar Association.<br>_______________________________________________<br><b>-- Note -- </b>The information contained in this e-mail transmission is confidential and may also be a legally privileged communication. This information is intended for the exclusive and private use of the addressee(s). If you are not the intended recipient, you are hereby notified that any use, disclosure, dissemination, distribution (other than to the addressee(s)), copying or taking any action because of this information is strictly prohibited. If you have received this e-mail in error, please notify the sender immediately. Thank you.<br>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~</span></p></div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"> </span></p><div><div style="border:none;border-top:solid #e1e1e1 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> [mailto:<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Ronda Larson Kramer<br><b>Sent:</b> Thursday, September 05, 2019 10:22 AM<br><b>To:</b> wsbapt List serve <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br><b>Subject:</b> [WSBAPT] SECURE Act and loss of the stretch IRA</span></p></div></div><p class="MsoNormal"> </p><div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">Listmates,</span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">Assuming the SECURE Act of 2019 passes the Senate, which is a definite possibility, is anyone else out there worrying about the impact that the loss of the stretch IRA would have on blended families and on couples where one spouse needs Medicaid for long term care? </span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">First, the act would eliminate a person's ability to prevent their spouse in a second marriage from changing the beneficiaries on their IRA--in other words, if a client prioritizes asset protection above all else and therefore wants to put the IRA into a trust for their spouse in a second marriage, under the new legislation, there would be no way for the surviving spouse to stretch the IRA beyond 10 years. </span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div><div><p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">Second, the act would eliminate the ability of a healthy spouse to transfer a stretch IRA inside a testamentary special needs trust for their sick spouse, where the sick spouse is/will be in long term care and may need Medicaid. </span></p></div><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div><div><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black"><a href="https://www.forbes.com/sites/jamiehopkins/2019/05/24/8-major-ways-the-secure-act-could-impact-your-retirement-plan/#727a0bff3437" id="LPlnk137862">https://www.forbes.com/sites/jamiehopkins/2019/05/24/8-major-ways-the-secure-act-could-impact-your-retirement-plan/#727a0bff3437</a></span></p></div><div><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div><div id="Signature"><div id="divtagdefaultwrapper"><div><p class="MsoNormal"><b><span style="font-family:"Arial",sans-serif;color:black">Ronda Larson Kramer</span></b><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#757b80">J.D., LL.M in Tax Laws, Owner</span></b><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><b><span style="font-family:"Arial",sans-serif;color:black">L</span></b><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">ARSON</span></b><b><span style="font-family:"Arial",sans-serif;color:black"> L</span></b><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">AW</span></b><b><span style="font-family:"Arial",sans-serif;color:black">, PLLC</span></b><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#757b80">Elder Law, Estate Planning</span></b><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#767171">1700 Cooper Point Rd SW, Bldg A3</span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#767171">Olympia WA 98502</span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#767171">Ph: 360-259-3076</span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#212121"><a href="mailto:ronda@larsonlawpllc.com" target="_blank"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#0563c1">ronda@larsonlawpllc.com</span></a></span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#212121"><a href="http://www.larsonlawpllc.com/" target="_blank"><span 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If you are not the addressee, any disclosure, copying, distribution, or use of the contents of this message are prohibited. If you have received this email in error, please destroy it and notify me immediately. Any tax advice contained in this message is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the internal revenue code or (2) promoting, marketing, or recommending to others any tax-related matter(s) addressed here.</span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"></span></p></div><div><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black"> </span></p></div></div></div></div></body></html>