Using Trusts as Beneficiaries of IRAs
The 60-Minute Lawyer
- Product Number: 2190314P01
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CLE Credits, earn up to:
1 substantive credits, 0 ethics credits CLE Credit Note -
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Product Description
Product Description
As more wealth is accumulated in retirement accounts, properly planning for the ultimate distribution of these assets is an important aspect of estate planning. Retirement accounts are unique assets, governed by complex rules, and the intersection of tax and estate planning with retirement accounts requires special planning considerations. Owners of retirement accounts need to consider the implications of naming individuals or a trust as beneficiaries, and what choice best fulfills their tax and estate planning objectives. Planners need to understand the special attributes of retirement accounts and how best to guide their clients in planning for them.
Required minimum distributions. Designated beneficiaries. Conduit and accumulation trusts. Stretch IRAs. Inherited IRAs. Learn the special language and rules associated with retirement accounts and estate planning. We focus specifically on Individual Retirement Accounts (IRAs) and discuss how a trust can be an IRA beneficiary, the types of trusts that might work for your clients, federal and state income and estate tax implications of naming a trust as IRA beneficiary, long term concerns of using a trust as beneficiary, how to fix broken trusts, and general pitfalls to avoid in making decisions about these issues.
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Agenda
Agenda & Materials
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12:00 - 12:05 pm
Welcome and Introduction
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12:05 - 12:15 pm
Overview of the Rules Governing How IRA Assets Are Distributed to Beneficiaries
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12:15 - 12:20 pm
The Tax Considerations in Naming IRA Beneficiaries
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12:20 - 12:30 pm
Discussion of the Special Rules Governing a Surviving Spouse Named as an IRA Beneficiary
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12:30 - 12:40 pm
Analysis of the Regulations Allowing Trusts to Be Named as IRA Beneficiaries, and How to Draft Trust Provision to Satisfy Them
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12:40 - 12:50 pm
Conduit or “See-Through” Trusts v. Accumulation Trusts: A Comparison of the Benefits and Burdens of the Two Most Commonly Used Trusts
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12:50 - 12:55 pm
Potential Solutions for “Broken” Trusts
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12:55 - 1:00 pm
"Ask the Experts" Q&A Session and Key Takeaways
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