What to Do with Inherited IRAs after the SECURE Act
The recently passed SECURE Act has killed the IRA Stretch and upended IRA planning. Are you confident in your ability to handle all the compliance and strategic considerations that go into estate planning with IRAs? This engaging legal guide will review all the old and new tools for transferring IRAs effectively and tax efficiently. Clarify new IRA rollover and minimum distribution rules to help your clients properly plan for inherited IRAs. Get practical solutions to new and common problems and learn what to do with existing IRA trusts. Order today!
- Analyze how the recently passed SECURE Act has affected your current cases and how to adapt to the changes.
- Clarify required minimum distribution rules and find the best ways to comply.
- Determine whether an IRA trust can still be a wise choice for your clients.
- Find out how to resolve the many and varied beneficiary challenges.
10:00 am to 5:00 pm Eastern Standard Time
- Tax Reform Update
10:00 - 10:30, Louis A. Silverman
- Overview of IRAs in Estate Planning
10:30 - 11:15, Louis A. Silverman and Stephanie F. Tribe
- Types of IRAs
- Lifetime IRA Issues: Roth IRA Conversions, Excess IRA Contributions, Gifting IRA Assets
- Lifetime RMDs
- IRA Charitable Rollover
- Creditor Protection
- Rollover Rules and Tactics
- Foundational Concepts
11:30 - 12:15, Stephanie F. Tribe
- Beneficiary Designation Form
- Designated Beneficiary
- Required Beginning Date
- Applicable Distribution Period
- Multiple Beneficiaries: Problems and Solutions
- Separate Account Treatment
- Key Dates
- Post-Death Required Minimum Distribution Rules
12:15 - 1:15, Stephanie F. Tribe
- Spouse as Beneficiary
- Non-Spouse Individuals as Beneficiaries
- Estates as Beneficiaries
- Trusts as Beneficiaries
- Charities as Beneficiaries
- Timing of Distributions
- IRA Trusts: Key Drafting Decisions
1:45 - 2:45, Stephanie F. Tribe
- When Does it Make Sense to Use One?
- Standalone Trust vs. Will or Revocable Trust
- Conduit vs. Accumulation
- Separate Trusts vs. Single Pot Trust
- Marital Deduction Trusts
- Sample Language and Practical Drafting Tips
- IRAs and IRA Trusts in Estate Administration
2:45 - 3:15, Louis A. Silverman
- Removing Beneficiaries
- Educating Beneficiaries
- Dealing with Custodians
- Changing Custodians
- What to Do When the Trust Terminates
- Protecting Inherited IRAs from Creditors
3:30 - 4:00, Louis A. Silverman and Stephanie F. Tribe
- SCOTUS Clark v. Rameker Decision on Inherited IRAs
- Implications for Inherited IRAs in Non-Bankruptcy Cases
- IRS Guidance and Enforcement Efforts
- Protecting Inherited IRAs from Creditors: What Works
- Legal Ethics in Estate Planning
4:00 - 5:00, Louis A. Silverman
- Who is Your Client?
- Attorney Fees and Engagement Agreements
- Protecting Confidentiality
- Avoiding Fraudulent Transfers
- UPL Risks and Prevention
- Multi-Jurisdictional Practice of Law
- Fiduciary Duty to the Client in the Context of Estate Planning
- Practical Scenarios - What Would You Do?
This legal guide is designed for attorneys. It will also benefit accountants, CPAs, trust officers, and paralegals looking to increase their knowledge of IRA rollover rules.