CRT Solutions for SECURE Act Tax Disaster
Millions of parents with a “creative spender” child need a trust for their traditional IRA, 401(k) or other qualified plan. However, the SECURE Act repealed the stretch IRA plan, and many conduit trusts will have a total IRA payout in the tenth year at the maximum state and federal income tax rate. The conduit trust income tax disaster is only partially avoided with an accumulation trust – the retained funds are depleted by 37% federal and up to 13.3% state taxes. The solution is a CRT with tax-free growth, protection of principal, payouts for 20 years or life and favorable tax planning for children.
Presenter: A. Charles Schultz
CLE: 1.0 General credits
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