In 2019, the US Government passed the SECURE Act, and one of the most significant ramifications was on what's known as the stretch IRA. Many people who inherit an IRA, now have a ten-year window to withdraw those funds. Previously there was no time restraint.

There are five classes of individuals who have a different rulebook to play by - known as Eligible Designated Beneficiaries, or EDBs. Bruce explains who they are and what special benefits they receive.

Because of these rules, beneficiary forms are very important. Remember, once you die, that the beneficiary forms cannot be changed.

Also, there's a new rule known as ALAR, or "At Least As Rapidly." Bruce walks us through this unique and vital rule as well.

For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/

Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.

For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/

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