Trusts are often named as beneficiaries for IRAs and other retirement arrangements. The choice has an impact on both income tax and estate planning. Trusts allow the IRA owner or plan participant to have beyond-the-grave control over the distribution payouts but the 2019 SECURE Act changed the rules necessitating a thorough review. Note : This class presents an in-depth discussion of issues presented in the instructor?s class Retirement Distributions: Planning Options.
Recognize reasons trusts are named as beneficiaries Identify the types of trusts used and their tax characteristics. Determine how the probate code affects beneficiary trusts. Develop strategies to assist clients dealing with plan custodians.
What is the significance of the Retirement Plan Beneficiary? Primary vs. Contingent Beneficiaries Is a Trust a “Designated Beneficiary?” Is it an “Eligible Designated Beneficiary?” Why do people want to name a trust as the beneficiary? Income Tax Aspects of Trusts as beneficiary What happens when the trust beneficiary dies?
CPAs, attorneys and financial professionals.
Working knowledge of estate issues and retirement plans preferred.