IRA Administration for Trusts and SNTs
A vast amount of wealth in the United States resides in qualified plans and individual retirement accounts (IRAs). Additionally, up to one in four people in the United States have some type of disability that must be considered when drafting a family's estate plan. Thanks to unique provisions for people with disabilities created by the SECURE 2.0 Act, special needs trust (SNT) planners and trustees have an amazing opportunity to manage inherited IRAs for their beneficiaries, potentially extending the longevity of a beneficiary's trust resources and avoiding onerous tax consequences. Nationally recognized speakers Stephen W. Dale and Peter J. Wall will illustrate how attorneys can best counsel estate planning clients as well as trustees administering IRAs for SNTs. IRA funding, decedent complications, Internal Revenue Service (IRS) deadlines, tax consequences, and required minimum distributions (RMDs) will be reviewed, including a thorough assessment of SECURE 2.0 Act regulations.
Learning objectives include the following:
- Attendees will receive a general overview/primer on IRA administration and commonly used terms.
- Attendees will learn the new provisions for IRAs in the SECURE Act and its subsequent amendment, the SECURE 2.0 Act.
- Attendees will learn the new types of IRA beneficiaries (non-designated beneficiaries, designated beneficiaries, and eligible designated beneficiaries), and trust types (see-through trusts, conduit/accumulation trusts, qualified trusts) and how this affects RMDs for inherited IRAs.
- Case studies will be reviewed illustrating the practical applications of new the SECURE 2.0 Act.
- Trust taxation review and IRS Private Letter Rulings (PLRs) will be covered.
Presented by: Stephen W. Dale, JD and Peter J Wall
CLE: 1.0 general credit
Approved States: CA, CO, FL, GA, IL, ND, NJ, NV, NY, OK, PA, TN, UT, VT
(AK, AZ, CT, MO, NH, TX eligible to claim credit)
We will supply you with the information needed to apply in other states.
Contact shopcle@wealthcounsel.com for CLE assistance.
WealthCounsel members: This CLE eligible program is complimentary for WealthCounsel members. Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.
