Master Your Finances Kurt Baker with Jane Fearn-Zimmer

Our host, Kurtis Baker, is joined by Jane Fearn-Zimmer, is a shareholder at Flaster Greenberg PC where she dedicates her practice to serving clients in the areas of elder and disability law, special needs planning, asset protection, tax and estate planning and estate administration (https://www.flastergreenberg.com).  She visited us and talked about estate planning, life insurance, taxes and things that are going on after the pandemic hits.

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Transcript :

00:34 Kurt Baker: Good morning and welcome back to another edition of Master Your Finances, presented by Certified Wealth Management and Investment. I am Kurt Baker, a certified financial planner professional, located in Princeton, New Jersey. I can be reached through our website, which is www.cwmi.us, or you can call me directly at 609-716-4700. This week, very pleased to have with us Jane Fearn-Zimmer, who is a shareholder in Flaster Greenberg. Dedicated her practice to serving clients in the areas of elder and disability law, special needs planning, asset protection, tax and estate planning, and estate administration. Jane, very pleased to have you on today, thank you very much for coming on. I know we’ve had a lot going on over the last few months. And just from talking to other people I know that are helping out the population as far as legal side, a lot of people are getting really focused on their planning and so forth. I’m just wondering what you’ve been seeing since the beginning of the year, and then when the pandemic hit. And so what have you been seeing as far as your client base goes out there? What is…

01:45 Jane Fearn-Zimmer: It has been a very, very busy time of year for us from January up to present, and I’m glad people are doing their documents because they really need… They need to look at their finances. There have been so many legal changes and so many economic changes that it really is imperative to look through all of that paperwork on your desk and make sure that your finances are in order because we have an unprecedented element of uncertainty in our time that we have not seen before. So one of the things that I encourage people to do is look at all of their assets. And a lot of you, your biggest asset is either your house or your retirement account. So I don’t know if you’re familiar with what’s called the SECURE Act, but that was new legislation that is now about just about nine months old. And we don’t have the regulations yet, so we don’t know exactly how it’s going to play out, but the legislation was touted as a win for the tax payers. It was promoted as a law that will help people who are on the brink of retirement conserve their finances and help people who have already retired, reserve everything that they’ve worked so many years for to save, and it would purport to do that by extending the age to take your minimum required distribution to age 72.

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