Elizabeth Hutton, Author at Howe & Rusling

Street$marts: Clarification of the 10-Year Rule for Retirement Account Beneficiaries

Elizabeth Hutton February 7, 2025

In July 2024, the IRS finalized regulations regarding required minimum distributions for inherited retirement accounts, providing crucial clarifications on the provisions established by the SECURE Act 2.0. This legislation significantly reshaped retirement savings laws, particularly concerning how distributions are managed for beneficiaries of retirement accounts inherited in 2020 or later, especially non-spousal ones. I’m Elizabeth Hutton, Vice President and Certified Financial Planner at Howe & Rusling. In today’s Street$marts we will tackle the implementation of the 10-Year Rule, which mandates that most non-spouse retirement account beneficiaries must fully deplete the inherited account within ten years of the original account holder’s death.

Blank direction signs pointing multiple ways along a dirt road

Understanding the SECURE Act Inherited IRA Rules

Elizabeth Hutton November 22, 2024

This legislation significantly reshaped retirement savings laws, particularly concerning how distributions are managed for beneficiaries of retirement accounts inherited in 2020 or later, especially non-spousal ones. The new rules, effective in 2025, address longstanding questions about the interpretation of the 10-year rule, which mandates that most retirement plan and IRA beneficiaries must fully deplete the inherited account within ten years of the account holder’s death. These regulations impact beneficiaries and their strategies for managing inherited retirement accounts. Here’s a detailed look at the finalized RMD regulations for inherited retirement plans and IRAs. This piece is only applicable to accounts inherited

Navigating the Roth Conversion Window

Elizabeth Hutton November 28, 2023

In this episode of StreetSmarts, Elizabeth Hutton, Vice President and Financial Planner at Howe & Rusling, delves into the intricacies of Roth Conversions. Discover how high earners can navigate Roth IRA contribution limits, and explore the strategic “Roth Conversion Window” between retirement and required minimum distributions. She will guide you through the criteria for optimal candidates, shed light on critical considerations, and unveil the strategic benefits, from mitigating future tax risks to enhancing estate planning.