Wills, Trusts & Estates Prof Blog

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

Thursday, December 26, 2019

CLE on Effective Use of IRA Assets in Tax and Estate Planning After the Secure Act (Includes IRS Compliance Issues)

CLESeymour Goldberg is presenting a seminar entitled, Effective Use of IRA Assets in Tax and Estate Planning After the Secure Act (Includes IRS Compliance Issues), on Wednesday, January 29, 2020 at Melville Corporate Center III, Master Conference Room, at 324 South Service Road, Melville, NY. Provided below is a description of the event.

Many taxpayers have accumulated a considerable amount of assets in their retirement accounts. These assets may be in their 401(k), another type of qualified plan, a 403(b) arrangement, a 457 governmental plan, a traditional IRA and a Roth IRA.

Estate and income tax planning are more important than ever, especially under the Secure Act, when advising a client that has substantial retirement type assets. This program covers many of the rules that you need to know when implementing an estate plan for the client that has substantial retirement assets. IRS Compliance is now a major issue in retirement distribution planning for IRA owners and IRA beneficiaries.

Some topics included in this program:

    • Brand new world of retirement distribution planning
    • Effective date of changes in the rules
    • Transition rules and partial retroactive rule provisions
    • Retroactive effect on IRA trusts throughout the United States that have not been amended or redone
    • No grandfather rule for IRA trusts for IRA owners who pass away on or after January 1, 2020
    • Effective use of Roth IRA trusts going forward to save the day
    • New required beginning date o Special rules for special categories of beneficiaries
    • Use of 10 year trusts for designated beneficiaries
    • Use of a life expectancy trust plus 10 year bonus payout period for eligible designated beneficiaries
    • The 10 year rule versus the life expectancy rule plus the 10 year bonus rule (without trusts)
    • Repeal of maximum age rule for making traditional IRA contributions
    • The federal age of majority rule for children
    • Potential massive IRS penalties for not tracking the new rules
    • Need for new practitioner specialty (IRA Compliance Specialist)
    • Default beneficiary issues

For more information on how to attend the event, see here.


Conferences & CLE, Current Events, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally, New Legislation | Permalink


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