Structuring IRA Trusts in Estate Planning to Comply With SECURE Act Rules

Modifying Trust Provisions, Minimizing Taxes and Preserving Assets, 10-Year Rule, Beneficiary Designations

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A

Conducted on Tuesday, January 5, 2021

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will prepare estate planning practitioners and tax advisers to identify key estate planning issues associated with IRA trusts under the SECURE Act. The panel will outline the SECURE Act's rules and requirements, the asset protection and tax savings benefits, the new 10-year rule, and key considerations in modifying and structuring IRA trusts.

Description

IRA trusts provide important estate planning benefits. The trust allows distributions to be extended over time to reduce tax liabilities while the trust assets' value grows tax-free during the beneficiaries' lifetime. IRA trusts also provide asset protection from creditors or divorce.

Under the SECURE Act, owners of IRA accounts who implemented special trusts for the post-mortem preservation of their retirement plan assets are now subject to new rules on their existing estate plan. Before the SECURE Act, beneficiaries of inherited IRAs could choose a lump sum withdrawal or stretch the withdrawal of required minimum distributions over their life expectancy. Such assets must now be distributed in full by the end of the 10th year after the owner's death. This requires careful planning to minimize taxes and protect beneficiaries.

The IRA trust, set up as the beneficiary of an IRA account, must comply with changes in IRA rules under the SECURE Act. Trusts and estates counsel must understand these new rules and implement effective estate planning by modifying existing IRA trusts or structuring new ones.

Listen as our authoritative panel of estate planning attorneys discusses best practices for maximizing the benefits of IRA trusts, identifies the key issues and advantages of these trusts in light of the SECURE Act, and offers effective drafting techniques.

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Outline

  1. Advantages of IRA trusts
  2. Asset protection benefits
  3. Tax planning considerations
  4. SECURE Act rules applicable to IRAs
  5. Structuring IRA trusts

Benefits

The panel will review these and other key issues:

  • What are the SECURE Act rules when using IRA trusts?
  • What are the tax savings benefits of IRA trusts?
  • What asset protection benefits are available through IRA trusts?

Faculty

LaMendola, Salvatore
Salvatore J. LaMendola
Member
Giarmarco Mullins & Horton

Mr. LaMendola specializes in charitable planning and planning for retirement plan benefits. He is the editor of the...  |  Read More

Morrow, Edwin
Edwin P. Morrow, III, J.D., LL.M. (Tax), MBA, CFP, CM&AA
Wealth Strategist
Huntington National Bank Private Wealth Management

Mr. Morrow works with local Huntington Bank private wealth management teams and their clients. He focuses on thought...  |  Read More

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