Page 5 - Palm City Spotlight - March '20

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Palm City Spotlight, Page 5

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How SECURE Is Your IRA to make contributions to retirement plans after age 70½ so long ability to withdraw greater amounts from the account).
Under these approaches, income tax would only be paid on
as they continue to work.
Planning? While offering benefit to many, the SECURE Act has amounts actually distributed to the beneficiary (typically, just
changes that will significantly affect others. the RMD amount), with the remaining account funds continuing
By Ryan Abernethy For instance, the SECURE Act almost entirely eliminates the to grow tax-free as part of the inherited retirement plan.
You may have heard of the opportunity for those who inherit an interest in a retirement plan Under the SECURE Act, this income tax deferral opportunity
“SECURE Act” and how this at the retirement plan owner’s death (designated beneficiary) has been eliminated for most designated beneficiaries. Now,
recently-enacted legislation to “stretch” annual RMDs from the inherited retirement plans with several very limited exceptions, a designated beneficiary
has changed retirement interest over that designated beneficiary’s remaining lifetime. must receive distributions from an inherited retirement plan
planning. The benefit of the “stretch” was that a designated interest over a maximum 10-year period.
This new law has many beneficiary’s income tax liability associated with distributions Individuals who plan to have retirement plan assets pass in
benefits, including allowing from an inherited retirement account could be spread (or trust to their beneficiaries (whether a spouse, child or otherwise)
retirement plan owners to “stretched”) over that designated beneficiary’s lifetime if the and have those assets managed for that beneficiary outside of
refrain from withdrawing designated beneficiary only withdrew annual RMD amounts the beneficiary’s direct control, may need to make changes.
required minimum from their inherited retirement account, or if he or she named a If you’re worried about how these changes affect how your
distributions (RMDs) from special trust as beneficiary of a retirement account, with the trust retirement plan assets will pass to your beneficiaries, it is critical
their IRA and 401(k) accounts until they have reached age 72 distributing RMDs amounts directly to the trust’s beneficiary that you contact a qualified estate planning attorney to discuss
(as opposed to age 70½) and allowing plan owners to continue annually (while simultaneously controlling the beneficiary’s what changes – if any – need to be made to your planning.

Vino With Sting!

Who Wants To Go To Italy Sting invited all of the Moon) just to name a few.

And Stay At Sting’s Tuscany neighbors and town locals to Sting said, “A wine is like
a song – it has a story to tell.”
the farm shop on the estate
Estate And Vineyard? for a party to share their plans Sister Moon has been
listed as one of the top
for returning Il Palagio to its
By Laura Berrio, Freelance Writer/Blogger previous glory. Now, every picks by Wine Spectator
You can rent out the entire estate, main house, guesthouses August, Sting holds a party for Magazine.
and grounds for up to 500 people! When I checked on the price, everyone to celebrate and thank You can travel to Italy to
it appears to be a case of, if you have to ask, you can’t afford it! them for their support. They check it out, or run to your
It all began when Sting and his wife Trudie were looking eat, drink wine and of course favorite wine store!
for a summer home in Italy. They found a rundown estate that he sings a few songs! Try a few and message
formerly produced honey, olive oil and wine. They bought the (I want to be on this me on your favorites!
property, Il Palagio, because of the view! Then they began a invitation list!) ~ Cheers
decade long project of bringing the estate, vineyard and olive Sting has named the wine produced from the vineyard after ~ Keep the conversation Message in a Bottle image
groves back to life. some of his hit songs … (Message in a Bottle, Roxanne, Sister going and the wine flowing. courtesy of IlPalago.com

Christy Bearse, CPA Christy’s 2019-2020 Sales on the Treasure Coast!
Realtor ®
(772) 631-9191 Address | Subdivision | List Price
Christy@WaterPointe.com

• 19259 SE Hidden Bridge Ct, Jupiter | Prado | $1,725,000

• 2200 SW Longwood Dr, Palm City | Monarch CC | $369,900
• 3389 SE Cambridge Dr, Stuart | Willoughby GC | $399,900

Boater’s • 1560 NE 12th Ter, Jensen Beach | Beacon 21 | $121,000

Paradise! • 427 Juno Dunes Way, Juno Beach | Juno Dunes | $484,900
• 717 S US Hwy 1 #703, Jupiter | Villas on the Green | $296,500

• 1821 SW Willowbend Ln, Palm City | Monarch CC | $299,000
• 2151 SW Brookhaven Way, Palm City | Monarch CC | $364,900

• 5325 SW Ludlum St, Palm City | Palm City Farms | $524,900
Waterfront home o ers main house (4BR/3.1BA)
plus attached guest house (2BR/2BA) overlooking • 3562 SE Cobia Way, Stuart | Cove Place | $105,000
Palm heated pool and stunning outdoor living space in • 942 NW Sunset Ter, Stuart | North River Shores | $349,900
an organic setting that is reminiscent of old
City Florida. Enjoy a 64 . deep-water dock, private • 2853 SW Mustang Ter, Stuart | River Forest | $309,000

boat ramp, and canoe/kayak docks, and indulge in • 6280 SE Winged Foot Dr, Stuart | Mariner Sands | $599,000
the stunning St. Lucie river views. • 4413 SE Coventry Ln, Stuart | Willoughby GC | $499,000
www.659Bittern.com • 3109 SE Doubleton Dr, Stuart | Willoughby GC | $649,900

• 2029 SE Talbot Pl, Stuart | Willoughby GC | $549,900

• 4285 SE Frazier Court, Stuart | Willoughby GC | $639,000

Water • 4293 SE Fairway East, Stuart | Yacht & CC | $539,000

Views • 3501 SE Fairway West, Stuart | Yacht & CC | $419,000
• 3571 SE Fairway West, Stuart | Yacht & CC | $439,500

• 3211 SE Court Dr, Stuart | Yacht & CC | $379,000
• 12964 SW Aureolian Ln, PSL | Del Web | $337,255