Estate Planning for IRAs Payable to Trusts After the Secure Act

4.6 (41)

Robert Keebler, CPA

Keebler & Associates LLP

Monday, March 08, 2021 | 02:00 PM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • PFS
  • CTEC

2 CPE | 2 CE | 2 CPD

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CPD credit (Verifiable) of Estate Planning for PFSs

2 CE credit of Federal Tax Update for Oregon Tax Preparers

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

2 CE credit of Estate or Investment Planning for Maryland Tax Preparers

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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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?

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

Testimonial

4.6

(41)
63%
37%
0%
0%
0%

AJ

Robert does a nice job of breaking down the fundamental concepts of the so-called 3 "tax" buckets: tax me now (cash management), tax me later (tax deferred retirement accounts) and don't tax me at all (life insurance retirement plans). He very effectively explains the benefits and drawbacks of each bucket. This is a webinar for anyone interested in learning the fundamentals of retirement planning

JH

Excellent Webinar from The Prosperity Guy! Would highly recommend anyone working with pre-retirement clients to attend this session. What you don't know in taxes will be painful later and can be alleviated with the advice provided by this webinar. Tell your clients not to go it alone, but get advice from someone who has looked at the future

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.

JR

his was an exceptionally interesting retirement planning webinar. Very useful information, especially related to the risk of today's tax deferred retirement funds, mutual funds, stocks, and bonds investing that we are all counting on to fund our retirements

RL

Great timely topic. Makes you want to sign up for a lengthier seminar.

KA

I am going to keep those program materials. Very useful information!