ESTATE PLANNING POST-SECURE ACT

Estate and Gift tax rules have been continuously changing over the past few decades, but the rules regarding the distributions of qualified retirement accounts during life and after death had stayed largely the same – that is, until the SECURE Act came along in 2020.  SECURE, its resulting rules and regulations issued by the IRS and SECURE 2.0 have all changed the retirement planning paradigms significantly, and changed the calculus for dealing with retirement accounts in estate planning.  This seminar will review the new rules in depth, analyze their impact both on retirement assets planning and overall estate planning, and discuss the latest thinking and techniques being used in estate planning in light of the changes in the law.  Topics will include:

• SECURE Act/SECURE 2.0 changes to retirement account distribution rules, enhancements to encourage retirement savings, enhanced early distribution provisions;
• New rules as to inherited retirement accounts – elimination of stretch treatment for most (but not all);
• The 10-year rule – how it works and the confusion over minimum distributions;
• Still obtaining life expectancy payout – “Eligible Designated Beneficiaries”
• Rules regarding trusts as beneficiaries – qualification rules, conduit vs. accumulation trusts and the impact of the new proposed regulations;
• Application of new trust testing rules for determining distribution payout period;
• Naming trusts as retirement account beneficiaries – when and if it is a good idea in light of the new rules, and how to do so properly;
• Estate planning for clients with large retirement accounts;
• Administration of estates and trusts with retirement accounts – taking timely minimum distributions, dealing with retirement account income in administration
• Modification of trusts holding retirement accounts;
• Tax optimization in handling retirement benefit income; and
• Much more!

Join Luke after the seminar from 12:00 p.m. – 12:30 p.m. for an open Q&A session.  Come prepared with your questions and fact patters.

Registration Form: 2023 Spring Registration Form