Henry & Cook, LLP

Henry & Cook, LLP We specialize in creating customized Estate plans that fit your needs. We also assist with Trust Administration, Litigation, Guardianship, and Conservatorship.

We have over 55 years of experience in the Trusts and Estates practice.

04/04/2020

Due to the current COVID-19 pandemic we at Henry & Cook, LLP have modified our protocols to keep you and our staff safe. We are happy to work with you to help you meet your estate planning needs.

04/04/2020

The Coronavirus Aid, Relief, and Economic Security or “CARES Act” that was signed into law on Friday, March 27, 2020 has several sections that may impact you. You probably heard about the one-time direct deposit of up to $1,200 for individuals, $2,400 for married couples, plus an additional $500 per child. The payments are available for taxpayers who earn up to $75,000 (individuals) or $150,000 (for married couples). Taxpayers who do not file taxes but collect social security will be eligible for the payments as well.

The CARES Act waives the requirement for IRA and 401(k) plan holders (those aged 72 years old or those with inherited IRAs) to take a mandatory minimum distribution from their IRA in 2020. In other words, the Required Minimum Distribution (RMD) is suspended until 2021.

The CARES Act also adjusted the tax code on several other items that are beyond the scope of this post and our practice. If you have questions about those you should speak with your tax professional.

04/04/2020

The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act became law on December 20, 2019 and changed several key features for retirement accounts. The SECURE Act repealed the maximum age for which traditional IRA contributions may be made, increased the RMD age for retirement accounts to 72 years old, and requires that inherited IRA distributions must be taken within 10 years (a grandfather clause exists for currently held inherited accounts).

04/04/2020

The 2020 annual adjustment to the estate and generation skipping transfer tax is up $11.4M to $11.58M for individuals, $23.16M for married couples.

Address

7825 Fay Avenue , Suite 200
La Jolla, CA
92037

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+18584541780

Website

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