Page 11 - Stuart Exposure - March '20

Stuart Exposure, Page 11

legal talk

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

Vino With Sting!

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

by Pat Deshong, President of Furry Friends For Sweet Heart, Sweet Pea, and Sweet Tea, life is now good
Adoption, Clinic & Ranch because they were saved by the rescuers (of course!) and Furry
Friends was there to provide safety, love and a temporary home

"For the Love of Animals" features
real stories happening at Furry Friends
in Jupiter. We are The Humane Society
of Greater Jupiter/Tequesta and the
only no-kill shelter open to the public
in northern Palm Beach County. We’ve
been rescuing, rehabilitating, and re-
homing the homeless animals in our
community for more than 30 years.
Our not for profit 501c3 organization
consists of our Jupiter based Adoption
Center, Veterinary Clinic (open to the public), Thrift Boutique, When considering adding a furry family member to your
and Palm City Ranch. family, please visit our Palm City Ranch at 4841 SW Zarrella
Street or our new Jupiter Adoption Center at 100 Capital Street
in the Jupiter Commerce Park. Yes, we are now open in Jupiter!!
Both locations are open 7 days a week from 10am-4pm.
Chlo-Bear. Chloe Bean. Sweet Girl. When you’ve lived Blessings to you for your support and faith in us… all for the
at Furry Friends for 3,465 days, you are naturally going to earn LOVE of animals!
your fair share of nicknames. Throughout the years, everyone
who got to know Chloe gave her a term of endearment or two.
While the average person had to earn her trust, once you were
“in” you were golden with Chloe… just like the color of her Patricia Deshong, President
beautiful eyes.
Oh, Chloe had gotten adopted… once. Ryan was a great guy
and the two had an incredible bond, however, Chloe and Ryan’s
roommate didn’t get along. So back she came to Furry Friends,
where we welcomed her with open arms and treated her like the
queen she is. A special kennel, comfy bed, favorite toys, and
many attempts to find just the right food for this fussy girl were
just a few of the many things we did to let her know how special
she was to us. We were her family and, while never giving up
hope, we often considered that she might be a “lifer” at Furry
Friends. This is what Furry Friends is all about…rescuing, rehabilitating,
These days, Chloe is called Sugar Paws, Sugee or Knuckles and giving homeless companion animals their best future… no
(short for Knucklehead when she’s acting silly!). Who dubbed matter how long it takes to find it. We invite you to come visit us!
her with these newer monikers? Her foster parents, Karl & Our website is www.furryfriendsadoption.org.
Cynthia. They started fostering Chloe early last year and, since Furry Friends depends on the generous support from donors
then, she’s been the queen of THEIR home! She spends all her like you. Without Furry Friends, the future of the many animals
time with Daddy Karl and he has taught her what it means to be we save would be uncertain. Thank you for donating and helping
secure, confident, and comfortable. She’s living her best life us continue our animal saving mission.
ever and we couldn’t be happier. Ways to donate (tax ID #59-2111273):
Chloe often comes to visit us at Furry Friends and doesn’t 1. Mail a check made payable to Furry Friends to 401 Maplewood
really care what sweet name we call her. She loves them all We are now home and open in Jupiter! However, we still Drive, Ste. 8, Jupiter, FL 33458.
and her wagging tail and sloppy kisses prove it! We know she’s need your help! If you would like to be a part of our new chapter, 2. Visit www.furryfriendsadoption.org
grateful to us for what we gave her throughout the years and please visit www.furryfriendsadoption.org or call 561.747.5311 3. Call us with your credit card information at 561.747.5311 ext. 3
for guiding her to the most loving parents she could have ever ext. 1 for more information. Ask for Pat Deshong, President, or “Your donation creates the possibilities to make miracles
imagined! Curry Krasulak, Director of Development. happen for our Furry Friends”
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