April 1, 2020

Follow-Up to March 2020 Client Alert: Estate Planning and Related Matters Update

Share

Additional developments from the March 2020 Client Alert

CARES Act Enacted

The Coronavirus Aid, Relief, and Economic Security Act was signed into law on March 27.  The Act provides a variety of direct aid and tax relief to individuals and businesses.

Temporary Suspension of Minimum Required Distributions

The Act suspends for 2020 minimum required distributions from qualified plans and individual retirement accounts.

Relaxed Charitable Income Deduction Limits for 2020

The Act allows individuals to claim a deduction of up to 100% of adjusted gross income for cash contributions made in 2020 to public charities, other than supporting organizations and donor advised funds.

Please click here to read the full client alert:  Follow-Up to March 2020 Client Alert: Estate Planning and Related Matters Update

For additional insights into the business and legal implications of the COVID-19 pandemic, please visit our Knowledge Center.