Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Thursday, December 24, 2015

Attorneys, Accountants, And Financial Planners Face Liability Concerns About IRA Advice

Business_expenseA large number of Americans have individual retirement accounts (IRAs) that estate planners often use to help their clients manage assets. There are many estate planning attorneys, accountants, and financial planners that have to face headaches about the potential for liability over their management of a client’s IRA account. This article provides examples of hypothetical situations where different estate planning professionals encounter issues that cause them to become open to personal liability. The rules and regulations governing traditional IRAs, Roth IRAs, taxes, and all of the other issues dealing with IRAs can be very complex and very few individuals are gurus in this subject material. People that are involved in a profession dealing with IRAs or estate planning in general should use prudence and caution when making decisions.

See Seymour Goldberg, New Liability Concerns for Accountants, Financial Planners and Attorneys Regarding IRA Advice, Accounting Today, December 23, 2015.

https://lawprofessors.typepad.com/trusts_estates_prof/2015/12/attorneys-accountants-and-financial-planners-face-new-liability-concerns-about-ira-advice.html

Elder Law, Estate Planning - Generally, Malpractice, Professional Responsibility | Permalink

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