Retirement Benefits: The New Focal Point for Estate Planners (On-Demand)

Course Description

Most estate planners will tell you that the estate and gift tax are no longer a focal point of the average estate plan. The historically high exemption from estate and gift tax, plus the new landscape of portability, have alleviated this tax concern for the majority of clients. In contrast, the number of clients who have significant wealth in 401ks and IRAs has increased, and the changes brought about by the SECURE Act and related Regulations have added to the complexity of planning for these assets. Proper planning for these retirement benefits can provide significant advantages in terms of reducing income tax and maximizing value. In this course, we’ll discuss the tax rules that make it so important to plan for these assets, including the rules regarding trusts named as beneficiaries of retirement benefits. We will also provide some tips on the factors to consider when planning for retirement benefits as part of a comprehensive estate plan.

Syllabus

1. Income tax treatment of 401Ks, IRAs, and Roth IRAs/accounts
2. Required Minimum Distributions (RMDs) and the distribution period
3. RMDs for Beneficiaries: Designated Beneficiaries, Eligible Designated Beneficiaries, and Others
4. Planning with Trusts
   • Why are trusts important
   • What is a see-through trust
   • Special rules relating to trusts
5. Retirement Benefits and charitable giving
6. Factors to consider when planning for retirement benefits