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Estate Planning for IRAs Payable to Trusts After the Secure Act

4.6 (49)

Robert Keebler, CPA, CGMA, CPA/PFS, AEP

Keebler & Associates LLP

Friday, January 29, 2021 | 10:00 AM EDT

  • AFSP
  • CFP
  • CPA
  • CVA
  • EA
  • Tax Preparer
  • CPA/PFS
  • TEP
  • CTEC
  • CSA
  • ERPA

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00183-20-O)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0195)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CPD credit (Verifiable) of Estate Planning for PFSs

2 CE credit of Estate or Investment Planning for Maryland Tax Preparers (Approval No. GEHNZ-U-00183-20-O)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00183-20-O)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Jul 30, 2021 | 01:30 PM EDT Register

Course Description

This is a critical post-Secure Act class for Accounting Professionals, Tax Professionals, Lawyers drafting trusts to receive IRAs at death and the CPAs and Financial advisors that work with those lawyers. 

Unfortunately, not enough attention is paid to the tax aspects of IRA planning and the opportunities to preserve retirement funds after death. Nevertheless, with a solid understanding of the post-Secure Act IRA provisions, one will be able to plan around the key issues and identify opportunities. The ten-year rule under 401(a)(9)(H) was layered over the existing statute and underlying 401(a)(9) regulations. Most IRAs will be subject to the ten-year rule, but traps and exceptions continue to exist in the expanded labyrinth of tax and property law surrounding IRA-Trusts.

In this exclusive LISI Webinar, which includes flowcharts, tables and spreadsheets, Robert Keebler  will review these critical issues:

  • The Ten-Year Payout Rule and the Five Statutory Exceptions under the Secure Act
  • The Secure Act’s Conduit Trust Disaster and what the Drafting Attorney must know
  • Understanding the four types of Trusts after the Secure Act; the Conduit Trust, the Designated Beneficiary Trust, the Non-Designated Beneficiary Trust and the Eligible Designated Beneficiary Trust
  • Understanding the Ghost and Five-Year Trap
  • Drafting Conduit Eligible Designated Beneficiary Trusts
  • Drafting Accumulation Trusts for Disabled and Chronically Ill Beneficiaries
  • Drafting Designated Beneficiary Accumulation Trusts for Non-Exception Beneficiaries
  • When to use Non-Designated Beneficiary Accumulation Trust for Non-Exception Beneficiaries
  • Payouts when a Beneficiary Dies
  • The “Catch-22” of Drafting in a Second or Third Marriage
  • Drafting Beneficiary Designation Forms and Drafting the four types of Trusts
  • Understanding the Secure Act’s Ten-Year Rule along with the Existing and Surviving Five Year and Ghost Rule.
  • What to do when an IRA is Payable to Non-Designated Beneficiary Trusts and the Five Year and Ghost Traps
  • What to do when an IRA is Payable to a Designated Beneficiary Trust
  • Understanding the Special Rules for Eligible Beneficiaries and Eligible Beneficiary Trusts
  • Understanding the Conduit Eligible Beneficiary Trust
  • Understanding conduit and accumulation trusts and when to use each
  • Reviewing Beneficiary Designation Forms and Qualified Trusts
  • Weaving Disclaimer Planning to Beneficiary Designation Forms and Trusts
  • The Impact of ERISA, REA and Community Property
  • Spousal Rollovers Outright and from Trusts
  • How to use Stretch out Strategies still Available
  • Using out of State Trusts to Reduce State Income Taxes

Learning Objectives

  • To identify the new changes relating to IRAs and employer plans.
  • To recognize the new and extended income tax provisions enacted as part of this new legislation
  • To recall new estate and estate tax planning strategies in light of changes to IRA and employer plan rules
  • To recognize Income Tax Planning when IRAs are Paid to Trusts and how to Pass-Out Taxable Income to the Beneficiaries

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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(
    [no_of_record] => 49
    [average] => 4.6327
)
 

4.6

(49)
63%
37%
0%
0%
0%

MC

This webinar was so full of information, knowledge, and remarkable inputs. I wish it was longer so the speaker could go slower. Powerful presentation and display of skills! Thank you MyCPE.

MC

A very important and informative webinar covering a host of topics. Loved the presentation by Keebler. Overall, would definitely recommend.

RC

All good.

TT

I really enjoyed this webinar. It was very informative and very well presented. I will return to myCPE again.

SC

A highly recommended webinar for those dealing with the subject.

LB

"As I am approaching my own retirement age I took this course more for myself. This speaker navigates well through a myriad of retirement vehicles and explains in each case why each option might be good as well as any drawbacks dependent upon future variables one may encounter. Even if you are unaware of every retirement vehicle mentioned in this webcast each is explained thoroughly enough to follow along.