Page 6 - Martin Downs Bulletin - July '20
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Page 6, Martin Downs

      Dating from page 5

       money or sanity on internet dating or blind flirting. You                      lEgal talk
       don’t have to either. Don’t think of what you have to lose
       today, think of what you have to gain. Be confident, smart,
       and carry on my friend! It’s time you start dating smart   How SECURE Is Your IRA                   simultaneously controlling the beneficiary’s ability
       too. You got this--and so do we!                                                                    to withdraw greater amounts from the account).
         Let’s claim some internet-independence!           Planning?                                         Under these two options, income tax would only be
                                                XOXO,                                                      paid on amounts actually distributed to the beneficiary
                                                 Kelly     By Ryan Abernethy                               (typically just the RMD amount), with remaining
         Kelly Leary, Founder of Revolution Dating has a     You may have heard                            account funds continuing to grow tax-free.
       master’s degree in psychology and 29 successful years   of the “SECURE Act”                           Under the SECURE Act, this income tax deferral
       in the dating industry. A top matchmaker, now known as   and how this new                           opportunity has been eliminated for most designated
       THE Florida Matchmaker, she has been profiled by ABC   legislation  brought                         beneficiaries.
       News, The Palm Beach Post, PalmBeacher Magazine,    changes to retirement                             Now, with very limited exceptions, a designated
      The South Florida Business Journal, and numerous other   planning.                                   beneficiary must receive distributions from inherited
      media outlets. Please call our hotlines seven days a week     It has many benefits,                  retirement plan interest over a maximum ten-year
      at 561-630-XOXO (9696) in the Palm Beaches and South   including allowing                            period.
      Florida area or 772-932-HERE (4373) on the Treasure   retirement plan                                  For individuals intending to have retirement plan
      Coast. You may also visit our informational only website at   owners to refrain from                 assets pass in trust for the benefit of their beneficiaries
      www.revolutiondating.com. All inquiries are confidential.   withdrawing required                     (whether a spouse, child or otherwise) and have those
      All applicants must be prescreened in person at our private   minimum distributions (RMDs) from IRA and 401(k)   assets be managed for that beneficiary outside of the
      practice to be eligible. This is NOT online dating.  accounts until they have reached age 72 (as opposed   beneficiary’s direct control, changes to the estate plan
                                                           to 70½) and allowing them to continue to make   may be necessary.
       Around Town Photos.                                 contributions to their retirement plans after age 70½,     If you have significant retirement plan asset
                                                           so long as they continue to work.
                                                                                                           holdings, the SECURE Act may make it necessary
       July 2020.                                            The SECURE Act has also brought changes that will   to consider alternative planning strategies if lifetime
                                                           significantly affect many individual’s estate plans.   asset protection for beneficiaries is a primary goal.
         One of the BEST ways to find love is by introduction     It has eliminated almost entirely the opportunity     You can do this while also avoiding the negative
       through a friend. Say no more. A photo speaks 1000 words!   for those inheriting an interest in a retirement plan   income tax consequences typically associated with
       Happy Fourth of July from Revolution Dating!        at the plan owner’s death (designated beneficiary) to   having retirement plan assets accumulated in a trust—a
                                                           “stretch” annual RMDs from the plan’s interest over   double win for your beneficiaries!
                                                           the designated beneficiary’s remaining lifetime.    If these changes have you worried about how your
                                                             The benefit of the stretch was that income tax   retirement plan assets will pass to your beneficiaries,
                                                           liability associated with distributions from an inherited   contact a qualified estate planning attorney to discuss
                                                           retirement account could be spread (or stretched) over   if you’re affected and what changes need to be made
                                                           that designated beneficiary’s lifetime if he or she   to your plan.
                                                           only withdrew annual RMD amounts, or by naming     Ryan C. Abernethy, associate attorney and counselor
                                                           a special form of trust as beneficiary of a retirement   at law at Abernethy Law Group, 130 S. Indian River
                                                           account, with the trust distributing RMD amounts   Dr., No. 201, Fort Pierce can be contacted at (772)
                                                           directly to the trust’s beneficiary each year (while   489-4901 or rabernethy@abernethylawgroup.com.


                                                                                   kids cornEr





                                                         What Is My Child’s Learning                         Other children are primarily visual learners, they learn
                                                         Style?                                            best by seeing a diagram, map, or watching a video.
                                                                                                           Children who are visual learners study their notes for
                                                         Jim Forgan, Ph.D.,                                a test and then during the test can visualize the page of
                                                         School Psychologist                               notes that has the answer.
                                                           If you are like many                              Many children are multisensory learners and they
                                                         parents, helping your child                       learn best using a variety of strategies. They benefit from
                                                         complete schoolwork                               touching flash cards and sorting them into categories as
                                                         online was a tiring process.                      they study.  Color  coding  important  information  helps
                                                         Many kids struggled with                          multisensory learners.
                                                         focusing, maintaining                               Kinesthetic learners need to be moving as they learn.
                                                         effort, and getting every                         These children can bounce a ball to a rhythm while saying
                                                         assignment done without                           aloud their multiplication facts. Some children stand or
                                                         a battle. One parent told                         walk around as they study. Kinesthetic learners benefit
        Wear The Bear from page 1                        me she developed a new                            from hands on learning.
                                                         appreciation for what teachers do in the classroom. Being     I can test your child to determine his or her learning
        Nicklaus Children’s Hospital. As a gesture of heartfelt   your child’s home education teacher might have made   style and then give you recommendations on how to build
        thanks, you will receive the special hat.        you wonder about your child’s preferred learning style.   upon these strengths to help your child excel in school.
          “This pandemic has reminded us of the things we     Some children are primarily auditory learners. These   You can also Google “online learning style survey” and
        hold dear, our families and our health,” said Barbara   kids learn best by listening to audio books, podcasts,   complete a free one.
        Nicklaus, founder and chair of the Nicklaus Children’s   and discussion. Auditory learners have stronger reading     I also test for ADHD/ADD, dyslexia, gifted, and other
        Health Care Foundation. “As the threat continues, we   comprehension when they softly read aloud so they can   processing disorders. Contact me at (561) 625-4125 or
        want to make sure the professionals who risk their   hear themselves.                              JimForgan.com.
        health to care for us have the protective equipment
        they need to stay safe. We have to pull together to get
        through this challenge.”                             Advertise in This Newspaper! Call 561-746-3244
          Nicklaus Children’s Hospital is currently spending
        $20,000  a  week  to  provide  PPE  for  the  staff. This
        expense  is expected  to increase as  the  hospital
        implements a universal mask policy to protect patients,     Dyslexia, ADD/ADHD,
        workers and visitors. Funding from the “Wear the Bear.
        Show You Care.” campaign will help the hospital to
        continue its critical work, while safeguarding patients,               Gifted Testing
        their families and health care workers.
          The “Wear the Bear. Show You Care.” campaign
        will continue through the crisis and as long as the need                 NOW OFFERING:                 Dr. Jim Forgan & Associates
        for PPE exists. Donations can be made on the Nicklaus                    • Jupiter & Stuart Offices
        Children’s Health Care Foundation website at nchcf.                                                           Licensed School Psychologist
        org/wearthebear.                                                         • Testing for Processing            www.JimForgan.com
          Jack and Barbara Nicklaus founded the Nicklaus                           Problems, Anxiety,
        Children’s Health Care Foundation in 2004 to provide                       Defiance                          (561) 625-4125
        world-class, pediatric care to children in Palm Beach                    • Weekend and After
        County and beyond – raising more than $125 million                         School Appointments
        to date. The foundation supports Nicklaus Children’s
        Hospital, which has helped children from every state
        in the union and 119 countries.                                                “Helping Parents Help Children”
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